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Followup

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA LW Exams › Followup

  • This topic has 1 reply, 2 voices, and was last updated 7 years ago by MikeLittle.
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  • January 29, 2018 at 8:22 am #433749
    humai
    Participant
    • Topics: 757
    • Replies: 248
    • ☆☆☆☆☆

    H, S and T formed a partnership to run a petrol station, the partnership agreement expressly stated that the partnership business was to be limited exclusively to sale of petrol. In January 2008, S received $10000 from the partnership bank drawn on its overdraft facility. He told the bank that the money was to finance a short term partnership debt but infact he used the money to pay for a round the world cruise. In Feb T entered into a $15000 contract on behalf of the partnership to buy some used cars which he hoped to sell from the garage forecourt.

    My question: Sir here partners have express authority just for sale of petrol, right? Please reply in yes or no

    January 29, 2018 at 8:41 am #433760
    MikeLittle
    Keymaster
    • Topics: 27
    • Replies: 23321
    • ☆☆☆☆☆

    Yes

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  • The topic ‘Followup’ is closed to new replies.

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