49. Release of debts and compromise of claims.

Where payment of a debt owing to a firm has been made, a partner in that firm has implied authority to release that debt1, even where it is released by deed executed by him 'for self and partner'2; but under normal principles a mere covenant not to sue by one partner only does not release a partnership debt3, and a partner has no implied authority to discharge a separate debt of his own by agreeing that it should be set off against a debt due to his firm4. A release, not by deed, of one partner by a creditor