Question

Discuss the relation of partners with the 3rd parties what is the liabilty of partner for the acts done with in the authority

Answer 1

Explanation:

Partnerships.

If one party is a partnership, the agreement should be signed by a general partner on behalf of the partnership.

Limited partners should never sign agreements since they have no authority to bind the partnership.

Only one partner needs to sign.

Answer 2

Answer:

Liability of the firm

Such an act may be passed with the authority of other partners and if such act causes loss or damage to the third party, then the firm shall be held liable to the same extent to which the partner is held liable. ... It establishes a relationship between the partner, the firm and the third party.