A partner1 has an implied authority to pledge or mortgage, otherwise than by deed, the personal property belonging to the partnership, and probably also the real estate2 if dealing in it is one of the objectives of the partnership, in order to raise money for the carrying on in the usual way of the partnership business, unless the partner so pledging or mortgaging has in fact no authority so to act for the firm, and the person with whom he is dealing either knows that he has no authority or does not know or believe him to be a
**Trials are provided to all LexisPSL and LexisLibrary content, excluding Practice Compliance, Practice Management and Risk and Compliance, subscription packages are tailored to your specific needs. To discuss trialling these LexisPSL services please email customer service via our online form. Free trials are only available to individuals based in the UK. We may terminate this trial at any time or decide not to give a trial, for any reason. Trial includes one question to LexisAsk during the length of the trial.
To view the latest version of this document and millions of others like it, sign-in to LexisLibrary or register for a free trial.
EXISTING USER? SIGN IN
TAKE A FREE TRIAL
0330 161 1234