New Enroll in our GIC Finance Online Course Here!

    Register

    Question

    The authority of a partner to bind the firm conferred by

    Section 19 of the Act is called: 
    A his express authority Correct Answer Incorrect Answer
    B his implied authority Correct Answer Incorrect Answer
    C representative of the firm Correct Answer Incorrect Answer
    D statutory authority Correct Answer Incorrect Answer

    Solution

      Partnership Act: Section 19.   Implied authority of partner as agent of the firm: (1) Subject to the provisions of section 22, the act of a partner which is done to carry on, in the usual way, business of the kind carried on by the firm, binds the firm. The authority of a partner to bind the firm conferred by this section is called his implied authority.

    Practice Next