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Why partner in a partnership is also an agent?

Posted by Vishesh Rawat 4 years, 5 months ago

CBSE > Class 12 > Business Studies

1 answers

Meghna Thapar 4 years, 5 months ago

A partner is an agent of the partnership. When a partner has the apparent or actual authority and acts on behalf of the business, the partner binds the partnership and each of the partners for the resulting obligations. To be sure, the law of agency potentially applies to partnership-type business associations just as it does to all individuals and legal entities in determining the relationships between firms and third parties.

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