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Commercial Act — Article 281 (Liability of General Partners by Estoppel)

상법 제281조

This English translation is based on the Korean text effective 2018-12-19. The Korean law has since been amended (current version effective 2026-09-10) — check the Korean original.

(1) Where a limited partner has acted in a manner to induce others to mistake him/her for an unlimited liability member, he/she shall assume the same liability as a general partner against any person who has made a transaction with the company due to such misconception.

(2) The provisions of the preceding paragraph shall apply mutatis mutandis where a limited partner has acted in a manner to mislead others as to the extent of his/her liability.

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