relationships with TPs

Question 1

what is the relationship between a partner and the P

Answer 1

agency

Question 2

actual authority

Answer 2

partner can bind P w/ express or implied authority

Question 3

apparent authority

Answer 3

partner must perform act in OCOB

Question 4

when can a TP not hold the partnership liable?

Answer 4

TP knew the partner lacked authority

Question 5

how would you transfer partnership property titled in the partnership’s name

Answer 5

instrument of transfer in P name

Question 6

how would you transfer partnership property titled in the a partner’s name

Answer 6

instrument of transfer in 1+ partner’s names

Question 7

when can you get property back that was transferred w/o authority?

Answer 7

if P interest was indicated in transfer instrument

OR

transferee aware property belonged to P and partner did it without authority

Question 8

what if a partner commits a tort on a TP?

Answer 8

P liable if it was committed in P OCOB or with P authority

Question 9

what if the partnership is liable in suit?

Answer 9

partnership liable

partners jointly and severally liable

Question 10

how would a creditor reach a partner’s assets?

Answer 10

need judgment against them personally