They want to know about who can act on behalf of either a partnership or company, and whether there are any constraints placed on such action. They further want to know about situations or circumstances when such actions may be binding or not binding on either the company or the partnership.

Read the following tacts and answer the questions that follow using ILAC: Jack, John, and Pam are university friends and decide to go into business in Auckland alter ieaying university. They, have: on an informal basis, already started a sports equipment business. They are currently running this business from Jack's back yard. Business has picked up rapidly and they are now considering moving to the next leyel. They are considering running the business either as a partnership or as a company. They know that you are a student of Lawr of Business Organisations and they have approached you for advice. Specicay, they seek your adyice on me following: I 1] They want to know.r about who can act on behalf of either a partnership or company, and whether there are any constraints placed on such action. They further want to know about situations or circumstances when such actions may be binding or not binrng on either the company or the partnership