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Agency and Partnership
Essay # 91068
Agency and Partnership
This paper examines the laws of partnership in business.
900 words (approx. 3.6 pages) |
1 source |
2006
Paper Summary:
The paper explains that in terms of the operation of a partnership, agency and partnership are related. This is primarily in that while in the case of agency the agent assumes no liability where the conditions of agency are properly fulfilled according to the law of agency, in the case of the operation of a partnership, the firm is liable for the actions of a partner committed in the course of the partnership business. Thus, the paper points out that in a partnership, every partner is considered the agent of the firm in the ordinary course of business and may bind the firm and the other partners in contractual relationships with third parties.More papers on Agency and Partnership:
Cite this paper
APA Citation:
Agency and Partnership (2012, January 15). Retrieved February 12, 2012, from http://www.academon.com/Essay-Agency-and-Partnership/91068
MLA Citation:
"Agency and Partnership" 15 January 2012. Web. 12 Feb. 2012. <http://www.academon.com/Essay-Agency-and-Partnership/91068>
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