Saturday, August 29, 2009

implied authority

No implied authority:

In the absence of any usage or custom of trade to the country, the implied authority of a partner does not empower him to-

Implied authority and third party:

1.extension and restriction:


of a partner ‘s implied authority the partners in a firm may, by construct between them, extend or restrict the implied authority of any partner.

2.effect of admission by a partner:


where a partner makes any admission or representation concerning the affairs of the firm.it is sufficient evidence against the firm provided the admission or representation of business.

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