Partnership agreement - voidable contracts, Business Law and Ethics

Assignment Help:

Partnership Agreement - Voidable Contracts

Conversely an infant is bound at common law through a partnership agreement although he is free to repudiate it at all time during infancy or surrounded by a reasonable time following attaining his majority.

However in Bennion v. Harrison there the court held Bennin, an infant that who had been a partner and had held himself out as about to many persons, was liable to the price of goods that so had been sold to the firm since when he became for age, he had not informed then "the world" like i.e. the persons that who knew him for be a partner or had dealt with him as such he was no longer a partner.  Moreover he had ceased to act as a partner within his infancy.

Nevertheless there S. 12 of the Partnership Act provides as like a person who is under the age to majority may be admitted for the benefits of partnership but he cannot be made personally liable to any of the firm's obligations.  Since S.13 of the Act provides like an infant partner becomes liable, accomplish the age of majority then to all obligations for the firm incurred seeing as he was admitted - then unless he gives public notice during as a reasonable time of his repudiation about for the partnership.


Related Discussions:- Partnership agreement - voidable contracts

Online exam in Business Law, #questonline exam of business law about 20 qes...

#questonline exam of business law about 20 qestions ( T and F , MC, and short answers ) The exam will open just for two hours The exam will start half of hour from now >> can yo

Probabilities for various ratios, I am an executive being transferred from ...

I am an executive being transferred from my home city on the west coast to one in the Midwest. I know nothing about the city I'm moving to, but I have to buy a house there. Realtor

Define the conceptual strength of stages model, Define the Conceptual stren...

Define the Conceptual strength of stages model The stages model has a number of conceptual strengths. First, it emphasizes a process of policy making that cuts across and bridg

Explain the criminal jurisdiction, Explain The criminal jurisdiction Th...

Explain The criminal jurisdiction The criminal jurisdiction is exercised on the basis of the following: 1. Nationality 2. Territory 3. Universal jurisdiction and 4. Specifi

Notice of resignation, Notice of resignation: Regarding clause (e) abo...

Notice of resignation: Regarding clause (e) above, it was held in Latchford Premier Cinema Co. V Ennion that a verbal notice of resignation which is given to, and is accepted

restraint of trade clause, a) Explain two scenarios in which a restraint o...

a) Explain two scenarios in which a restraint of trade clause would typically be used. b) Suppose your employer wanted to include a restraint of trade clause in your employment

Right to sell - terms used in contract, Right to sell - Terms used in Contr...

Right to sell - Terms used in Contract With S.14 (a) provides that there is an implied condition such seller has a right for sell the goods and, like in the case of an agreeme

Comparative analysis, Identify two firms with similar problems but from dif...

Identify two firms with similar problems but from different countries. Conduct a comparative analysis of the firms.Analyze political, social, ethical, and legal differences facing

What are the main areas of case law, What are the main areas of case law? ...

What are the main areas of case law? Case law: There are two main areas, as follows: • Common law: It is an amalgamation of past cases that are used to make decision

Describe the term- higher national income and interest rate, Describe the t...

Describe the term- higher national income and interest rate This causes country B to adjust to point B with both a higher national income and interest rate. At this point the f

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd