A partner's authority to act for the partnership is similar to the authority of a(n):
A) agent to act for a principal.
B) independent contractor to act for an employer.
C) shareholder to act for a corporation.
D) employee to act for another employee.

Question

Quizplus · Accepted Answer

A partner's authority to act for the partnership is similar to the authority of an agent to act for a principal. Just like an agent is authorized to act within the scope of their agency agreement, a partner is authorized to act within the scope of the partnership agreement. This means that a partner can enter into contracts, make decisions, and perform other actions on behalf of the partnership.

A Partner's Authority to Act for the Partnership Is Similar