Partnership act, 1932.

pratik (Querist) 09 June 2010 This query is : Resolved
1)Difference between apparent authority & implied authority if possible with the help of a suitable examples. It will be very much kind of all the experts.

2)What is the meaning of deponent in the affidavit know as.

3)As per the contract act, 1872 difference between document showing the title & document of title.

Thanking u all experts in advance.

Follow Query

Report Abuse

Guest (Expert) 09 June 2010
`
.1 A partner is deemed to be an agent of the firm so far as the business of the firm is concerned(Section 18 of the Indian Partnership Act, 1932). In view of this, acts of a partner which are donefor the purpose of running the business in usual way, bind the firm and the authority of a partnerto do such acts is known as implied authority [Higins v. Beucamp (1914) A.E.R. 937]. This impliedauthority is available to every partner of the firm and need not be reduced to writing in the deed ofpartnership. The exercise of implied authority must be in accordance with the provisions of Section 19. Section 19 points out that implied authority can be exercised only in relation to those acts which have a direct relation with the business of the firm. Further, the manner in which the authority isexercised must be similar to that which is required for the business to be carried on by the firm.Further, section 19(2) and 20 of the Indian Partnership Act, 1932 imposes certain limitations onthe implied authority of a partner. In view of these provisions, a partner cannot exercise hisimplied authority in relation to the following acts:1. Reference of firm’s disputes to arbitration.2. Opening bank account for the firm in his own name.3. To compromise fully or partly in a suit for to abandon any claim.4. The withdraw proceedings or part thereof, instituted in the court on the part of the firm.5. To admit any liability in a proceeding against the firm.6. To acquire immovable property for the firm.7. To transfer immovable property of the firm.8. To participate in any partnership for the firm.A partner can do any of the above acts provided he is expressly authorized to do that or theusage or custom of the trade permits them

2 Deponant(noun) a person who testifies or gives a deposition

3 document showing the title & document of title.------
when any doubt arises as to whether a particular document is a document showing title or 'a document of title' to goods for the purposes of the Indian Contract Act, the test is whether the document in question is used in the ordinary course of business as proof of the possession or control of goods, or authorising or purporting to authorise, either by endorsement or delivery the possessor of the document to transfer or receive the goods thereby represented.