Authority of Partners to Bind the Partnership
This lesson integrates agency law and partnership law to develop an understanding of the authority partners possess to bind the partnership. The lesson explores the actual and apparent authority of partners and the possibility of inherent agency power in the partner context.
On completion of the lesson, the student will be able to:
1. Describe the actual authority of partners to bind a partnership in contract.
2. Discuss the concept of apparent authority.
3. Explain inherent agency power.