ARCHIVE SiteMap 2023-07-01

Comment on the statement that dissolution involves a change in the relation of partners but does not end partnership.

A Partnership firm opened a bank account. The account was to be operated by 'A' and another partner jointly. No authority was given to 'A' to act as an agent of the firm. 'A' executed an acknowledgement in favour of the bank. Is the firm bound by the acknowledgement given by 'A'? Discuss.