29-1021. Partner agent of partnership
Subject to the effect of a statement of partnership authority under section 29-1023:
1. Each partner is an agent of the partnership for the purpose 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 knew or had received a notification that the partner lacked
authority.
2. An act of a partner that 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.
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