heriff.

May a minor act as principal? As agent? A watch left at a jeweler's store
for repairs is injured by the workman; who is responsible to the owner? On
account of a road overseer's neglect a horse is injured by stepping
through a hole in a bridge; to whom shall the owner look for damages? If a
person is notified that another claims to represent him as agent and he
neglects to repudiate the claim, is he responsible for acts of the
claimant as agent?

May an agent having authority to fix prices sell to himself?

May a clerk in a store take goods at regular marked prices?

An agent transacts business after his principal's death but before he has
received notice thereof, is the transaction binding upon the heirs?

CHAPTER XXXIII.

PARTNERSHIP.

What it is.--Partnership is the relation existing between persons who have
agreed to combine their property or skill for the prosecution of a given
enterprise, and to share the profits or losses resulting therefrom.

How Formed.--Partnership being a matter of agreement is subject to the law
of contracts. When the agreement is in writing, it is called "articles of
copartnership." The articles usually specify the parties and the firm
name, the nature and the location of the business to be carried on, the
investment of each party, the basis for apportioning profits and losses,
and sometimes the duration of the co-partnership. There are generally
other provisions, their nature depending upon the circumstances.

Responsibility.--As to each other, the partners have the rights and duties
which they agree upon.

As to third parties, the two most important rules of law are: first, that
_the firm is bound by the acts of each member_, in matters pertaining to
the firm's business; second, _each member is liable for all the debts of
the firm_.

Dissolution.--If the duration of the partnership is not specified, it may
be dissolved by any partner at any time. If its duration is specified, it
expires, of course, by limitation or by mutual consent. In either case,
the death of a partner dissolves the firm. If a partner becomes insane or
acts fraudulently, the partnership may be dissolved by a decree of the
court. The sale of an interest (which must have the consent of each
partner) dissolves the partnership and forms a new one.

Notice of Dissolution.--That the retiring partners may be freed from
responsibility for new debts, if the dissolution be by sale of interest
(and