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5 . In a general partnership, the law of agency applies, and all partners are agents of the partnership business ( with the partnership being

5. In a general partnership, the law of agency applies, and all partners are agents of the partnership business (with the partnership being the principal).
1. Identify and describe the types of authority a partner possesses as an agent of the partnership (the principal);
2. What is the effect of a partner (the agent) entering into a contract on behalf of the partnership (the principal)?
3. What affect does a partners dissociation from the partnership have on the dissociating partners authority with respect to the partnership?

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