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Sir I still want to ask 1 thing
1)”Implied authority of partner can only be withdrawn if an express clause is stated along with third party notification for restriction on implied authority.”
2)“The firm is not bound by the implied authority of a partner if the third party knows the partner has no express authority.”
Sir in the phrase 2 its mentioned that partner has no EXPRESS AUTHORITY, but in the phrase 1 its just mentioned that if an express clause is stated for restriction on IMPLIED AUTHORITY.
Sir, so how both of these phrases means the same thing?
If it is expressly stated that the partner has no authority … neither express nor implied … then the partner cannot bind the firm
It’s not possible to imply that the partner has no implied authority … such denial must be expressly stated
Move on and stop drowning yourself in minutiae!
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