South Australian Numbered Acts South Australian Numbered Acts11—Amendment of section 7—Partner using credit of firm for private
purposes
(1)
Section 7—delete "the firm" first occurring and substitute:
a firm other than a firm that is an incorporated limited partnership
(2)
Section 7—after its present contents as amended by this section (now to
be designated as subsection (1)) insert:
(2) Where one general
partner pledges the credit of a firm that is an incorporated
limited partnership for a purpose apparently not connected with the firm's
ordinary course of business, the firm is not bound unless the general partner
is in fact specially authorised by the firm, but this section does not affect
any personal liability incurred by an individual general partner.