Asked by Mursal Hamdard on May 11, 2024
Verified
Much of the law of partnership is same as the law of agency.
Law of Partnership
A legal framework governing the formation, operation, and dissolution of a partnership, including the rights and obligations of partners amongst themselves and to outsiders.
Law of Agency
A legal principle that governs the relationship between an agent acting on behalf of a principal, defining the rights and duties of both parties.
- Recognize the principles surrounding the law of agency as it applies to partnerships.
Verified Answer
KM
Kristal McCathernMay 15, 2024
Final Answer :
True
Explanation :
Both partnership and agency laws deal with the relationships where one party acts on behalf of another, and many principles governing these relationships, such as fiduciary duty and authority to bind the other party, overlap.
Learning Objectives
- Recognize the principles surrounding the law of agency as it applies to partnerships.