Dealings with third parties

Graw, Stephen (2018) Dealings with third parties. In: Sue, Shannon J., (ed.) Partnerships and Joint Ventures. Halsbury's Laws of Australia . LexisNexis Butterworths, Sydney, NSW, Australia, pp. 556251-556286.

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[Extract] Every partner is an agent of the firm and of the other partners for the purposes of the business of the partnership.1 That is, every partner has 'actual authority' to act for those purposes. Accordingly, a partner's acts beyond that business will not bind the firm or the other partners.2 However, subject to certain qualifications,3 partners also have apparent (or ostensible) authority to do any act for carrying on, in the usual way,4 business of the kind5 carried on by the partnership and those acts may also bind the firm and the other partners.6 A partner's actual authority to act as an agent of the firm and of the other partners may be negated or qualified by contrary agreement between the partners.7 However, such an agreement between the partners does not affect dealings with others where a partner acts Page 117 with the apparent authority of the firm.8 Conversely, where all the partners authorise a partner to act outside the scope of the partnership business, all the partners will be bound by an act pursuant to the authorisation.

Item ID: 53288
Item Type: Book Chapter (Later Edition)
ISBN: 978-0-409-30467-1
Keywords: authority of partner; or, apparent authority; or, ratification; liability of partners; or, holding out; or, contribution; or, apparent partners; or duration of liability of partners
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Date Deposited: 24 Jul 2018 03:43
FoR Codes: 18 LAW AND LEGAL STUDIES > 1801 Law > 180109 Corporations and Associations Law @ 100%
SEO Codes: 94 LAW, POLITICS AND COMMUNITY SERVICES > 9499 Other Law, Politics and Community Services > 949999 Law, Politics and Community Services not elsewhere classified @ 100%
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