Law for Business Assignment Example | Topics and Well Written Essays - 2000 words - 1

Law for Business - Assignment Example nless he is, in fact, specially authorized by the other partners; but this section does not affect any personal liability which may arise against any other partner who has so conducted himself as to give reasonable ground to the party dealing with the partner first mentioned for believing him to be so authorized1.There are rights that the third party has and enable the party to enforce agreements against the firm. The enforcement of a term by the third party is when the terms of the contract provides that the party is subjected to subsection and the term that is given by the firm significances to discuss a benefit that the party will obtain. Any claim that can be made by the third parties may not be well defended by the partnership since not all the partners were involved. The subjection that the third party is able to get may not apply when if on a proper coming to an agreement appears that the parties that were involved did not have the intention to have the term being enforceable by the law 2. In the enforcements that are made, the third party must be well identified by the partners in the contract with fine details including name and as a member of a given class or as answering a given description3. There is no need of the person to be in existence when the agreement of the purchases is entered into. The laws of third party involvement in a contract need the subject to be subjected to and also do it according to other relevant terms of the contract. In contracts that Steve involved in, there was no consideration of other terms of partnership that they were in. in exercising rights of enforcement by a third party, there is availability to the third party remedy that would be available to him if there was breach in the contract that was entered to if the third party was already part of the contract. The other rules that apply to the third party are with rules that relate to damages, specific performance and injunctions. There are terms of contracts that restrict