358.090. Partner agent of partnership as to partnership business. - Missouri Statutes

Partner agent of partnership as to partnership business.

358.090. 1. Every partner is an agent of the partnershipfor the purpose of its business, and the act of every partner,including the execution in the partnership name of anyinstrument, for apparently carrying on in the usual way thebusiness of the partnership of which he is a member binds thepartnership, unless the partner so acting has in fact noauthority to act for the partnership in the particular matter,and the person with whom he is dealing has knowledge of the factthat he has no such authority.

2. An act of a partner which is not apparently for thecarrying on of the business of the partnership in the usual waydoes not bind the partnership unless authorized by the otherpartners.

3. Unless authorized by the other partners or unless theyhave abandoned the business, one or more but less than all thepartners have no authority to

(1) Assign the partnership property in trust for creditorsor on the assignee's promise to pay the debts of the partnership;

(2) Dispose of the goodwill of the business;

(3) Do any other act which would make it impossible to carryon the ordinary business of a partnership;

(4) Confess a judgment;

(5) Submit a partnership claim or liability to arbitrationor reference.

4. No act of a partner in contravention of a restriction onauthority shall bind the partnership to persons having knowledgeof the restriction.

(L. 1949 p. 506 § 9)