Limits on a Partner's Authority Normally Are Effective Only with Respect

question 25

True/False

Limits on a partner's authority normally are effective only with respect to third parties who are notified of the limitation.​

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Definitions:

Judgment

A formal decision or conclusion by a court or judge.

U.S. Supreme Court

The highest court in the United States, with ultimate appellate jurisdiction over all federal and state court cases that involve a point of constitutional or federal law.

Court of Last Resort

The highest court in a jurisdiction from which there is no appeal, often referred to as a supreme court.

State Law

Regulations and statutes enacted by the legislative bodies of individual states, different from federal laws.