Asked by
Ynitsed Morales
on Nov 21, 2024
Verified
Only the partnership agreement determines the implied authority of partners.
Implied Authority
Authority of an agent that is not explicitly stated but is assumed to be granted in order to conduct the necessary activities to fulfill the agent's duties.
Partnership Agreement
A contract between two or more individuals who agree to manage and operate a business together, sharing its profits and losses.
- Understand the fundamentals of estoppel in partnerships and inherent authority.
Verified Answer
XS
Learning Objectives
- Understand the fundamentals of estoppel in partnerships and inherent authority.