Lance purchases a new ute from Mighty Motors Pty Ltd for $25,000. He tells Lynton, the car salesperson that he is a partner in a herbal products business
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Lance purchases a new ute from Mighty Motors Pty Ltd for $25,000. He tells Lynton, the car salesperson that he is a partner in a herbal products business

Case Study 1

Lance purchases a new ute from Mighty Motors Pty Ltd for $25,000. He tells Lynton, the car salesperson that he is a partner in a herbal products business. Lynton is aware of the business as he has read an article about it in the local newspaper.

The three partners had agreed that a car would be purchased for the business but Lance was instructed not to spend over $20,000.

Lynton is completely unaware that Lance has a purchasing limit.

Will the partnership be bound by this contract? Can the other partners take action against Lance?

Hint
Partnership relationship, obligations, and rights acquire general presentation in a partnership deed. If the deed does not highlight a contractual aspect, then partners shall obtain obligations and rights mentioned in Partnership Act....
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