Nevada Revised Statutes Title 7. Business Associations; Securities; Commodities § 87.160. Partner by estoppel

1. When a person, by words spoken or written or by conduct, represents himself or herself, or consents to another representing him or her to any one, as a partner in an existing partnership or with one or more persons not actual partners, the person is liable to any such person to whom such representation has been made who has, on the faith of such representation, given credit to the actual or apparent partnership, and if the person has made such representation or consented to its being made in a public manner the person is liable to such person, whether the representation has or has not been made or communicated to such person so giving credit by or with the knowledge of the apparent partner making the representation or consenting to its being made.

2. When a person has been thus represented to be a partner in an existing partnership, or with one or more persons not actual partners, the person is an agent of the persons consenting to such representation to bind them to the same extent and in the same manner as though he or she were a partner in fact, with respect to persons who rely upon the representation. Where all the members of the existing partnership consent to the representation, a partnership act or obligation results; but in all other cases it is the joint act or obligation of the person acting and the persons consenting to the representation.

3. This section does not apply to any person who, by words spoken or written or by conduct, announces an association of persons for the sole purpose of a business development, regardless of whether such an announcement uses, or the association of persons is described by, the terms “partnering” or “joint venturing” or any other similar term, so long as the business development is undertaken by one or more corporations or limited-liability companies.