Saturday, December 13, 2008

Duties and Legal Obligation of General Partners

1. Fuducuary Duties Owned to Other Parnerts

2. Each Partner Personally Liable for All Partnership Partners

a. Personal Liability for Acts of Other Partners

b. All Liability Joint and Several

Authority of Partners

Partners have whatever actual authority the partners agree that the partners will have. They aslo have apparent authority to enter into any teansaction that is apparently within the scope of the partnership business.

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