20. Extension and restriction of partner’s implied authority.
The partners in a firm may, by contract between the partners, extend or restrict the implied authority of any partner.
Notwithstanding any such restriction, any act done by a partner on behalf of the firm which falls within his implied authority binds the firm, unless the person with whom he is dealing knows of the restriction or does not know or believe that partner to be a partner.
- Reference, Review, and Revision in Civil Procedure Code - 28th March 2024
- Witness and Types of Witness Under Indian Evidence Act - 18th March 2024
- How to Start Studying Law – For New, Existing, and Old Students - 3rd March 2024