How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Chris The Lawyer Your Own Question
Chris The Lawyer
Chris The Lawyer, Lawyer
Category: New Zealand Law
Satisfied Customers: 22978
Experience:  38 years qualified as a lawyer; LLB, MMgt and FAMINZ.
Type Your New Zealand Law Question Here...
Chris The Lawyer is online now
A new question is answered every 9 seconds

If you have a partnership between 4 people can two partners

Customer Question

If you have a partnership between 4 people can two partners go in and sign the sale of the business without the knowledge of the other two partners?
Submitted: 2 years ago.
Category: New Zealand Law
Expert:  Chris The Lawyer replied 2 years ago.
This should not be done be without a Resoltion from all the partners. However the contract for sale could be enforceable because the partners would have authority to sell in the eyes of third parties like the purchaser. This means that the purchaser could enforce the sale. This would then be a breach of the partnership agreement which would entitle the other partners to sue the partners who did this, for any losses incurred by the sale.