The Florida Senate

¹620.60  Partner agent of partnership.--

(1)  Every partner is an agent of the partnership for the purpose of its business. The act of every partner, including the execution in the partnership name of any instrument, for apparently carrying on in the usual way the business of the partnership of which he or she is a member, binds the partnership, unless the partner so acting has in fact no authority to act for the partnership in the particular matter, and the person with whom the partner is dealing has knowledge of the fact that he or she has no authority.

(2)  An act of a partner that is not apparently for the carrying on of the business of the partnership in the usual way does not bind the partnership unless authorized by the other partners.

(3)  Unless authorized by the other partners or unless they have abandoned the business, one or more, but less than all, of the partners have no authority to:

(a)  Assign the partnership property in trust for creditors or on the assignee's promise to pay the debts of the partnership.

(b)  Dispose of the goodwill of the business.

(c)  Do any other act that would make it impossible to carry on the ordinary business of a partnership.

(d)  Confess a judgment.

(e)  Submit a partnership claim or liability to arbitration or reference.

(4)  No act of a partner in contravention of a restriction on authority shall bind the partnership to persons having knowledge of the restriction.

History.--s. 9, ch. 72-108; s. 25, ch. 95-242; s. 141, ch. 97-102.

¹Note.--Repealed effective January 1, 1998, by s. 25, ch. 95-242.