Q: Elaborate Section 27 of partnership act, 1932 ?

Ans: Section 27 of partnership act,  1932 mentions about liability of firm for misapplication by partners where

(a) a partner acting within his apparent authority attains money or property from a third party as well as misapplies it, the firm will be liable for the loss of the partner. 

(b) If a firm in the course of its business attains money or property from a third party, and the money or property is misapplied by any of the partners while it is in the custody of the firm, the firm will also be liable for such loss. 

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