Assertion: partnership's partner | /r/HasAspect | the authority
Facets:
value: in general partnerships
type: OTHER
Source sentences:
text: Because of this combination of personal liability with regards to debt—and the fact that each partners has the authority to bind the formation—it is critical that partners trust one another.
text: Any partner has authority to bind the firm.
text: In a general partnership, all partners contribute to the daily management of the business, and each partner has the authority to make business decisions and sign legally binding contracts for the company.
text: The managing partner is an agent of the partnership, having the authority to act on behalf of the company in buying and selling, signing contracts, and dealing with employees.
text: A partner has the authority to do the acts that are customary for a member of the partnership who conducts the particular business of the partnership, whether it be a law partner­ship, medical partnership, accounting partnership, etc.
text: In general partnerships, all partners have the authority -- unless otherwise specified in the partnership's written agreement -- to make decisions on behalf of the other partners, such as signing contracts and getting a loan.
text: Each general partner has equal responsibility and authority to run the business.
text: In the absence of an agreement to the contrary, the partners have equal rights and authority to participate in managing the business.