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The Partnership Act 1890 and The Company law - Assignment Example

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This essay stresses an analysis as to whether a partner in this case Lindsay is expelled from the partnership. The important aspect of the fact that needs to be construed in respect of the same is that whether the act of Lindsay of not being active in the partnership…
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The Partnership Act 1890 and The Company law
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This discussion talks that the only problem which lies in respect of this would be that the provision provides for the term ‘may’ which does not make it compulsory and therefore if Mary hires Terry without consultation that would be problematic. The problem in respect of this position would be that under section 5 of the Partnership Act 1890 a partner is considered to be an agent of the firm as well as other partners in respect of the purpose of the business of the partnership and so the acts of the partner who indulges into action in order to carry out the usual business of the kind which is carried on by the firm for which he is a member, would bind the firm, unless the partner does not have authority to do the act.
Further, section 6 provides that if an act or instrument which relates to the business of the firm and is done/executed in the name of the firm with a person who is authorized even if he is a partner or not will bind the firm as well as the partners.
By virtue of the aforementioned section 5 and 6, it is clear that if Mary enters into a contract for hiring Terry whereby Terry does know that he is the partner and has the authority would create a binding contract which would be effective on both Lindsay and Janine. In addition by virtue of the instrument, if any, section 6 would come into play and would be binding upon Terry, the firm as well as the partners of the firm and thus such a contract would then have to be abided by and thus an action in respect of the same cannot be rectified. ...Download file to see next pagesRead More
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