FREE BOOKS

Author's List




PREV.   NEXT  
|<   143   144   145   146   147   148   149   150   151   152   153   154   155   156   157   158   159   160   161   162   163   164   165   166   167  
168   169   170   171   172   173   174   175   176   177   178   179   180   181   182   183   184   185   186   187   188   189   190   191   192   >>   >|  
uestion to answer. The education of a child is now largely regulated by statute. A parent may protect his child, even a homicide is justifiable. A parent can also correct his child. Says an excellent authority: "The rights of parents result from their duties. As they are bound to maintain and educate their children, the law has given them such authority, and, in support of that authority, a right to the exercise of such discipline as may be requisite to the discharge of the sacred trust." See _Adopted Child_; _Husband and Wife_. =Partnership.=--There may be a partnership in a single transaction, for example, to buy and sell a load of potatoes. Persons may be liable as partners to others who had no intention of creating that relation. If A acts in such a way by speech or deeds as to create the belief in B that he is a partner, and thus believing B sells goods to the partnership, A is liable as a partner for them. On the other hand if B knew that A was not a partner, he could not hold him as one. In many cases it is difficult to determine whether one is a partner or not. Many tests have been applied. The most general is that of intention. Simply sharing in the profits and losses will not always suffice. This was long considered a proper test but it broke down after many applications. Thus, suppose a clerk is paid by giving him a fixed percentage of the profits as a compensation, is he a partner? He was so regarded on one occasion, and the firm having failed he was made liable for all its debts. That is one of the consequences attending the relation, every partner is liable for the entire indebtedness of the amount he may have contributed. The clerk contributed nothing, nevertheless he was liable like the others. Today the courts would decide such a case differently. It would inquire whether the partners intended to make him a partner, or only gave him a share of the profits as a mode of paying him for his service. The recent Partnership Act contains this test. A partnership may usually hold any kind of property, real and personal, and not infrequently is formed to cultivate or deal in land. A partner is a general agent. Hence the risk of creating the relation. Being a general agent he can bind his partnership for any acts within the scope of his authority. Yet there are limitations. If a partnership was engaged in selling dry goods, a partner could hardly bind his partners by making a contract with a person for
PREV.   NEXT  
|<   143   144   145   146   147   148   149   150   151   152   153   154   155   156   157   158   159   160   161   162   163   164   165   166   167  
168   169   170   171   172   173   174   175   176   177   178   179   180   181   182   183   184   185   186   187   188   189   190   191   192   >>   >|  



Top keywords:

partner

 

liable

 
partnership
 
authority
 

relation

 
general
 

partners

 
profits
 

contributed

 

Partnership


creating
 

intention

 

parent

 

indebtedness

 

amount

 

entire

 

consequences

 

attending

 

largely

 

decide


differently
 

courts

 
giving
 

percentage

 

regulated

 
suppose
 

applications

 

compensation

 

failed

 

occasion


regarded

 

uestion

 

answer

 

making

 

contract

 
person
 

limitations

 

engaged

 

selling

 

cultivate


formed

 

paying

 

service

 

recent

 

intended

 
personal
 
infrequently
 

property

 
education
 

inquire