§ 7-64-301 — Partner agent of partnership

Colorado § 7-64-301

• Jurisdiction: Colorado
• Title 07: Corporations
• Art.: Colorado Uniform Partnership Act (1997)

Text

(1) Subject to the effect of a
statement of partnership authority under section 7-64-303:

(a) Each partner is an agent of the partnership for the purposes of its
business. An act of a partner, including the execution of an instrument in the
partnership name, for apparently carrying on in the ordinary course the partnership
business or business of the kind carried on by the partnership binds the partnership,
unless the partner had no authority to act for the partnership in the particular
matter and the person with whom the partner was dealing had notice that the
partner lacked authority.

(b) An act of a partner which is not apparently for carrying on in the ordinary
course the partnership business or business of the kind carried on by the
partnership binds the partnership only if the act was authorized by the other
partners.

Legislative History

Source: L. 97: Entire article added, p. 874, � 1, effective January 1, 1998.