Kent and Davis are partners in operating a store. Without consulting Kent. Davis enters into a con

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Kent and Davis are partners in operating a store. Without consulting Kent. Davis enters into a con¬ tract to purchase merchandise for the store. Kent contends that he did not authorize the order and re¬ fuses to pay for it. The vendor sues the partners for the contract price of the merchandise,

(a) Must the partnership pay for the merchandise? Why?

(b) Does your answer differ if Kent and Davis are partners in a public accounting firm?

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Fundamental Accounting Principles

ISBN: 9780072946604

17th Edition

Authors: Kermit D. Larson, John J Wild, Barbara Chiappetta

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