Importance of Partnership Law and Agency Relationship

Under the agency relationship, the principal permits the agent legally to act on his behalf. There should not be any conflict of interest while performing an act appointed to the agent on behalf of the principal. The legal relationship is covered under well-established rules of the law of agency. For example, individuals are allowed under the law of agency to hire others for performing their job or sell their product or purchase the property. It depends on the principal who can authorize the agent for performing certain duties or by curtailing certain acts. Authorization of tasks to the agent represents the principal’s control. A partnership is based on the law of agency and theory of contract; the requirement to enter into partnership is the capacity of contracting, which implies that for a person to enter into a partnership must be of competent age and mentally capable of understanding the obligations of the same. Following are the importance and characteristics of Partnership Law:

The legal authority of partners to bind other partners in the partnership

Don't use plagiarized sources. Get Your Custom Essay on
Importance of Partnership Law and Agency Relationship
Just from $10/Page
Order Essay

Partners are jointly as well as severally liable for any debt incurring or legal obligations

For enforcing a judgment, the assets of partners are available to the creditors of judgment.

The concept of separate legal entities is defeated in a business operating about the partnership by managing the organization’s liability.

Agency Relationship Creation

The following two ways create the relation of agency-

The agency is created by agreement- As most of the creation of the agencies is through contract, rules, and provisions of the contract law govern it. However, the creation of the agencies can be made by agreement. When an agency is created by agreement, three principles of a contract are taken into consideration. The first principle, which is important for creating agency by agreement, is a prerequisite for consideration. The agencies that are created by consent about the agreement are not mandatorily contractual. However, without consideration, an agent cannot work for another person. The second principle concerns the contracts of oral agency that need not be in writing as they are already legally binding. However, there are certain circumstances where the agency contracts are necessary to be there in written form. For example, if there is uncertainty about the completion of the purpose agreed on by the agency or agency relationship happens to continue for a term of more than one year, where there is an agreement for paying a commission to the real estate broker, an agent is in the authority of selling real estate and agreement is also required if a contract is made between organization and the representative of the sales. The third principle is capacity, where a contract is rendered void or voidable due to the lack of capacity of one party to make it. The law being focused on the principal’s capacity makes the contract voidable even though the agent is fully competent.

Creation of agency by operation of Law- Even though maximum agency contracts are created by contract, they may also be created by the implied or apparent agency. Under implied agency, courts have given a declaration regarding having implied agencies in certain areas of social need, and no agreement is required. The implied agency is also created when individual acts as an agent. The principal having the knowledge that the agent behaves in a particular manner allows the individual to hold himself out as an agent. Whereas in an apparent agency, where termination of the agency is not communicated, it is deemed to be considered as performed by the authorized agent.

Use of Partnership and Agency Clause
Some businesses do not opt for having partnerships or agency contracts. However, certain reasons allow two or more organizations operating in a joint venture but do not intend to have a partnership to take measures for being categorized under partnership law. The intention of the parties to the contract is recorded in a partnership or agency clause. The existence of a partnership clause in a contract doesn’t allow the court to decide that the formation of the partnership is by the parties’ conduct.

It can be concluded that the organization comes under the partnership if parties fulfill the requisites of the Partnership act such as sharing of profits and losses, joint ownership of a business about the intention of the parties, and equal rights of involvement in the management of the business, after signing the contract. However, to remove ambiguity regarding a partnership relationship’s existence and not render it as conclusive, the partnership or agency clause applies.

The parties have a clear expression having businesses in joint ventures about not forming legal partnership or agency in their contract of agreement.

Key Takeaways
The fundamental idea behind an agency relationship is that two parties – the principal and the agent – agree to form some (generally) mutually beneficial relationship.

The agent is the party who the principal empowers to carry out some specified task for the principal’s benefit.

Partnership law is an area of the law that pertains to partnerships, associations of two or more people formed for business reasons.

Agencies may be created expressly, impliedly, or apparently.


Get Professional Assignment Help Cheaply

Buy Custom Essay

Are you busy and do not have time to handle your assignment? Are you scared that your paper will not make the grade? Do you have responsibilities that may hinder you from turning in your assignment on time? Are you tired and can barely handle your assignment? Are your grades inconsistent?

Whichever your reason is, it is valid! You can get professional academic help from our service at affordable rates. We have a team of professional academic writers who can handle all your assignments.

Why Choose Our Academic Writing Service?

  • Plagiarism free papers
  • Timely delivery
  • Any deadline
  • Skilled, Experienced Native English Writers
  • Subject-relevant academic writer
  • Adherence to paper instructions
  • Ability to tackle bulk assignments
  • Reasonable prices
  • 24/7 Customer Support
  • Get superb grades consistently

Online Academic Help With Different Subjects


Students barely have time to read. We got you! Have your literature essay or book review written without having the hassle of reading the book. You can get your literature paper custom-written for you by our literature specialists.


Do you struggle with finance? No need to torture yourself if finance is not your cup of tea. You can order your finance paper from our academic writing service and get 100% original work from competent finance experts.

Computer science

Computer science is a tough subject. Fortunately, our computer science experts are up to the match. No need to stress and have sleepless nights. Our academic writers will tackle all your computer science assignments and deliver them on time. Let us handle all your python, java, ruby, JavaScript, php , C+ assignments!


While psychology may be an interesting subject, you may lack sufficient time to handle your assignments. Don’t despair; by using our academic writing service, you can be assured of perfect grades. Moreover, your grades will be consistent.


Engineering is quite a demanding subject. Students face a lot of pressure and barely have enough time to do what they love to do. Our academic writing service got you covered! Our engineering specialists follow the paper instructions and ensure timely delivery of the paper.


In the nursing course, you may have difficulties with literature reviews, annotated bibliographies, critical essays, and other assignments. Our nursing assignment writers will offer you professional nursing paper help at low prices.


Truth be told, sociology papers can be quite exhausting. Our academic writing service relieves you of fatigue, pressure, and stress. You can relax and have peace of mind as our academic writers handle your sociology assignment.


We take pride in having some of the best business writers in the industry. Our business writers have a lot of experience in the field. They are reliable, and you can be assured of a high-grade paper. They are able to handle business papers of any subject, length, deadline, and difficulty!


We boast of having some of the most experienced statistics experts in the industry. Our statistics experts have diverse skills, expertise, and knowledge to handle any kind of assignment. They have access to all kinds of software to get your assignment done.


Writing a law essay may prove to be an insurmountable obstacle, especially when you need to know the peculiarities of the legislative framework. Take advantage of our top-notch law specialists and get superb grades and 100% satisfaction.

What discipline/subjects do you deal in?

We have highlighted some of the most popular subjects we handle above. Those are just a tip of the iceberg. We deal in all academic disciplines since our writers are as diverse. They have been drawn from across all disciplines, and orders are assigned to those writers believed to be the best in the field. In a nutshell, there is no task we cannot handle; all you need to do is place your order with us. As long as your instructions are clear, just trust we shall deliver irrespective of the discipline.

Are your writers competent enough to handle my paper?

Our essay writers are graduates with bachelor's, masters, Ph.D., and doctorate degrees in various subjects. The minimum requirement to be an essay writer with our essay writing service is to have a college degree. All our academic writers have a minimum of two years of academic writing. We have a stringent recruitment process to ensure that we get only the most competent essay writers in the industry. We also ensure that the writers are handsomely compensated for their value. The majority of our writers are native English speakers. As such, the fluency of language and grammar is impeccable.

What if I don’t like the paper?

There is a very low likelihood that you won’t like the paper.

Reasons being:

  • When assigning your order, we match the paper’s discipline with the writer’s field/specialization. Since all our writers are graduates, we match the paper’s subject with the field the writer studied. For instance, if it’s a nursing paper, only a nursing graduate and writer will handle it. Furthermore, all our writers have academic writing experience and top-notch research skills.
  • We have a quality assurance that reviews the paper before it gets to you. As such, we ensure that you get a paper that meets the required standard and will most definitely make the grade.

In the event that you don’t like your paper:

  • The writer will revise the paper up to your pleasing. You have unlimited revisions. You simply need to highlight what specifically you don’t like about the paper, and the writer will make the amendments. The paper will be revised until you are satisfied. Revisions are free of charge
  • We will have a different writer write the paper from scratch.
  • Last resort, if the above does not work, we will refund your money.

Will the professor find out I didn’t write the paper myself?

Not at all. All papers are written from scratch. There is no way your tutor or instructor will realize that you did not write the paper yourself. In fact, we recommend using our assignment help services for consistent results.

What if the paper is plagiarized?

We check all papers for plagiarism before we submit them. We use powerful plagiarism checking software such as SafeAssign, LopesWrite, and Turnitin. We also upload the plagiarism report so that you can review it. We understand that plagiarism is academic suicide. We would not take the risk of submitting plagiarized work and jeopardize your academic journey. Furthermore, we do not sell or use prewritten papers, and each paper is written from scratch.

When will I get my paper?

You determine when you get the paper by setting the deadline when placing the order. All papers are delivered within the deadline. We are well aware that we operate in a time-sensitive industry. As such, we have laid out strategies to ensure that the client receives the paper on time and they never miss the deadline. We understand that papers that are submitted late have some points deducted. We do not want you to miss any points due to late submission. We work on beating deadlines by huge margins in order to ensure that you have ample time to review the paper before you submit it.

Will anyone find out that I used your services?

We have a privacy and confidentiality policy that guides our work. We NEVER share any customer information with third parties. Noone will ever know that you used our assignment help services. It’s only between you and us. We are bound by our policies to protect the customer’s identity and information. All your information, such as your names, phone number, email, order information, and so on, are protected. We have robust security systems that ensure that your data is protected. Hacking our systems is close to impossible, and it has never happened.

How our Assignment  Help Service Works

1.      Place an order

You fill all the paper instructions in the order form. Make sure you include all the helpful materials so that our academic writers can deliver the perfect paper. It will also help to eliminate unnecessary revisions.

2.      Pay for the order

Proceed to pay for the paper so that it can be assigned to one of our expert academic writers. The paper subject is matched with the writer’s area of specialization.

3.      Track the progress

You communicate with the writer and know about the progress of the paper. The client can ask the writer for drafts of the paper. The client can upload extra material and include additional instructions from the lecturer. Receive a paper.

4.      Download the paper

The paper is sent to your email and uploaded to your personal account. You also get a plagiarism report attached to your paper.

smile and order essaysmile and order essay PLACE THIS ORDER OR A SIMILAR ORDER WITH US TODAY AND GET A PERFECT SCORE!!!

order custom essay paper