Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Lesedi and beauty are partners in auditing firm. Their partnership agreement stipulates that only Lesedi may contract on behalf of the partnership. Beauty purchases a

Lesedi and beauty are partners in auditing firm. Their partnership agreement stipulates that only Lesedi may contract on behalf of the partnership. Beauty purchases a yacht on behalf of the partnership.

Indicate the correct statement

(1) The partnership will be bound to the contract to purchase regardless of whether Lesedi gave his consent, in terms of the principle of mutual mandate.

(2) The partnership will be bound to all contracts concluded in the name of the partnership because it has a separate juristic personality.

(3) The partnership will be bound to the contract to purchase the yacht only if Lesedi gave his consent.

(4) The partnership cannot be bound, because the doctrine of constructive notice applies to partnerships.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Essential Criminal Law

Authors: Matthew R Lippman

1st Edition

1452276935, 9781452276939

More Books

Students also viewed these Law questions

Question

4. What are the guidelines for asking questions?

Answered: 1 week ago

Question

Understand some techniques for evaluating the HRM function

Answered: 1 week ago