Which of the following statements is false regarding the implied authority of partners?
A) Partners generally have less authority than typical agents.
B) The implied authority of partners is usually determined by the nature of the business.
C) Implied authority permits partners to enter into agreements necessary to carry on partnership business.
D) A partner has the authority to purchase goods necessary to perpetuate the business.
E) A partner does not have implied authority to sell partnership property without the consent of all other partners.

Question

Quizplus · Accepted Answer

Implied authority of partners is generally broad, allowing them to act on behalf of the partnership in ways that are necessary to carry on the business in the usual way. This means they often have as much, if not more, authority in certain contexts compared to typical agents, not less.

Which of the Following Statements Is False Regarding the Implied