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Relation of partners with third parties

Every partner is an agent of the firm for the purpose of the business of the firm. He can act on behalf of the firm and bind the firm. Every partner is jointly and severally liable for all the acts of the firm while he is a partner. In other words, for the acts of the firm, a third party can sue each partner individually or jointly with the other partners. It is therefore necessary that every partner understands the extent of his authority as a partner and confines his actions within the limits of the authority.

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