• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
Free ACCA & CIMA online courses from OpenTuition

Free ACCA & CIMA online courses from OpenTuition

Free Notes, Lectures, Tests and Forums for ACCA and CIMA exams

  • ACCA
  • CIMA
  • FIA
  • OBU
  • Books
  • Forums
  • Ask AI
  • Search
  • Register
  • Login
  • ACCA Forums
  • Ask ACCA Tutor
  • CIMA Forums
  • Ask CIMA Tutor
  • FIA
  • OBU
  • Buy/Sell Books
  • All Forums
  • Latest Topics

June 2025 ACCA Exam Results

Comments & Instant poll >>

20% off ACCA & CIMA Books

OpenTuition recommends the new interactive BPP books for June 2025 exams.
Get your discount code >>

Partners authority and liability

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA LW Exams › Partners authority and liability

  • This topic has 1 reply, 2 voices, and was last updated 8 years ago by MikeLittle.
Viewing 2 posts - 1 through 2 (of 2 total)
  • Author
    Posts
  • March 22, 2017 at 9:25 pm #379009
    humai
    Participant
    • Topics: 757
    • Replies: 248
    • ☆☆☆☆☆

    Hello

    I want to ask that whether I am right in the following sentences? If not then please correct me in cases where am I wrong

    1) If partner have actual authority then firm (i.e all individual partners) is liable , otherwise only individual partner is liable
    2) If transaction relate to business carried on by firm, then firm is liable, otherwise only individual partner is liable
    3) If other party know that the partner had no authority then firm is NOT liable, only individual partner is liable
    4) If other party know that partner was a partner then firm is liable, otherwise only individual partner

    Thanks

    March 23, 2017 at 9:09 am #379028
    MikeLittle
    Keymaster
    • Topics: 27
    • Replies: 23327
    • ☆☆☆☆☆

    They are all ok but, with the first one, you could have re-worded it to read …

    “A partner has the authority to bind the firm and the partners for the purpose of the business of the firm”

    OK?

  • Author
    Posts
Viewing 2 posts - 1 through 2 (of 2 total)
  • The topic ‘Partners authority and liability’ is closed to new replies.

Primary Sidebar

Donate
If you have benefited from our materials, please donate

ACCA News:

ACCA My Exam Performance for non-variant

Applied Skills exams is available NOW

ACCA Options:  “Read the Mind of the Marker” articles

Subscribe to ACCA’s Student Accountant Direct

ACCA CBE 2025 Exams

How was your exam, and what was the exam result?

BT CBE exam was.. | MA CBE exam was..
FA CBE exam was.. | LW CBE exam was..

Donate

If you have benefited from OpenTuition please donate.

PQ Magazine

Latest Comments

  • Josfel on Relevant cash flows for DCF Taxation (example 4) – ACCA Financial Management (FM)
  • askar.turganbayev@gmail.com on AA Chapter 2 Questions
  • RashidMh on MA Chapter 1 Questions Accounting for Management
  • John Moffat on Relevant Cash Flows for DCF Relevant Costs (example 1) – ACCA Financial Management (FM)
  • John Moffat on Accounting for Management – ACCA Management Accounting (MA)

Copyright © 2025 · Support · Contact · Advertising · OpenLicense · About · Sitemap · Comments · Log in