Sir in the previous partnership question which I posted , the partnership agreement expressly stated that the partnership business was to be limited exclusively to the sale of petrol. However, in February 20X8 Tam entered into a £15,000 contract on behalf of the partnership to buy a stock of bicycles, which he hoped to sell from the garage forecourt.
a) Here, because of the express clause stated in partnership agreement regarding sale of petrol,Tam does NOT have EXPRESS AUTHORITY for buying and selling bicycles, Am I right?
b) Suppose if there was NO express clause stated in partnership agreement regarding sale of petrol, then in this case Tam would have EXPRESS AUTHORITY for buying and selling bicycles, Am I right?
Ask the Tutor ACCA LW
Partnership express and implied authority
2) Sir the pre incorporation question which I posted yesterday in which Don entered into an agreement with Fad Ltd for business equipment. The agreement was made 'subject to adoption by Eden plc' but now Eden plc does not wish to pursue the agreement.
Here was this a novation agreement? And can Don claim reimbursement from Eden plc for the business equipment ?
8y ago#2a) yes
b) no - the expression "express" means that it is actually stated ... whether it's a positive authority or a positive restriction
And if it's not express, then it must be implied
Question 2 - no, it's not a novation agreement
A contract is a positive statement of intent to be bound on specified terms ... and a "contract" that is "subject to" anything does not satisfy that definitive requirement
And, no, Don cannot claim reimbursement
And please don't post two questions relating to different topics on the single thread
OK?
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