partner authority Archives

4. Raju, a partner of a firm, borrows money on his own credit by giving his own promissory note for the same, but he subsequently uses the proceeds of the note in the partnership concern of his own free will without any reference to the lender to do so. Is the firm liable for the loan?

1. Facts of the Case 2. Issues in the Case 3. Legal Principles Covered a) Partner’s Implied Authority b) Acts Done Beyond Implied Authority c) […]