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Barrister, Attorney
Category: Business Law
Satisfied Customers: 33200
Experience:  15 years practicing attorney, JD, BA, MBA
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If provided authorization can a limited partner sign a binding

Customer Question

If provided authorization can a limited partner sign a binding contract on behalf of a limited partnership.
Submitted: 4 years ago.
Category: Business Law
Expert:  Barrister replied 4 years ago.

Business dealings with a limited partnership must be with the general partners, and commitments must be authorized by the general partner or partners in accordance with authority given them by the limited partnership agreement.

So if the limited partnership agreement states that the general can delegate authority to one of the limited partners to enter into agreements on behalf of the LP, then they could do so. If not, then no.

The primary statutory guidelines for limited partnerships are found in the Uniform Limited Partnership Act ("ULPA") or the Revised Uniform Limited Partnership Act ("RULPA") which was first revised in 1976 and again amended in 1985. Almost all states (48 states plus the District of Columbia, as of 1998) have enacted the RULPA.





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Barrister and 3 other Business Law Specialists are ready to help you
Customer: replied 4 years ago.
Can you direct me to a link on the internet for minutes I can use for this?
Expert:  Barrister replied 4 years ago.
I am afraid I don't understand your last question. If you could clarify it, I will attempt to assist.


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