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

Issue of restraining order services , Sub: Filing Divorce and Issue of Rest...

Sub: Filing Divorce and Issue of Restraining order services Dear Kimberly Frederick Bumfree, Warm Greetings from Donald & Matthews Law firm, This letter is for your imme

Bailment – negotiable instrument, Bailment – Negotiable Instrument Wheth...

Bailment – Negotiable Instrument Whether Sir William Jones has specified the subsequent definition of bailment: like "A delivery of goods on trust on a contract, such express

Explain the sovereign of state immunity, Explain the sovereign of state imm...

Explain the sovereign of state immunity Immunity relates to the sovereign of state immunity and act of state doctrine. This is the most complicated immunity available and relat

Interpret compliance requirements, For this unit you will be given a hypoth...

For this unit you will be given a hypothetical business situation, which is to be developed in line with statutory and voluntary compliance requirements to enable the business to o

Repugnance to justice and morality, Repugnance to Justice and Morality ...

Repugnance to Justice and Morality However the customary law will be applied only whether it is not repugnant to justice and morality.Even though the Act needs the phrase "and

Explain international criminal law, Normal 0 false false fa...

Normal 0 false false false EN-IN X-NONE X-NONE MicrosoftInternetExplorer4

Advantages of subsidiary legislation, ADVANTAGES: Therefore some of th...

ADVANTAGES: Therefore some of the advantages or strong point of delegated legislation are:as; (a)   Compensation of lost Parliamentary time Conversely parliamentarians a

Claims and create a decision , 1. Each country in the world is a member of ...

1. Each country in the world is a member of the World Trade Organization (WTO). 2. A federal court of the United States and a state court can both "hear," i.e., listen to the cl

Directors liability, Directors liability: This was fraudulent preferen...

Directors liability: This was fraudulent preference and the bank must repay the sums received. The directors' liability under their guarantee to the bank then revived. A paym

Advocates, Advocates Whether in sec 3(1) of the Interpretation and Gen...

Advocates Whether in sec 3(1) of the Interpretation and General Provisions Act cap 2 and sec 2 of the Advocates Act (1989) an advocate is a person that whose name has been dul

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