Which of the following is true about implied authority?
A)It is the sole determinant of a partner's actual authority.
B)It is determined with reference to what is usual business for partnerships of the same general type.
C)It exists because it reasonably appears to a third party that a partner has authority to do an act.
D)It may contradict a partner's express authority.

Question

Quizplus · Accepted Answer

Implied authority permits a partner to bind the partnership and his partners for acts within the ordinary course of business.The scope of this implied authority is determined with reference to what is usual business for partnerships of the same general type.

Which of the Following Is True About Implied Authority