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Mark the incorrect statement:
The implied authority may be restricted by an agreement between the partners.
The implied authority may not be extended by an agreement between the partners.
When a restriction has been imposed On the implied authority of a partner, such a restriction is not binding on the third party unless the third party has the, knowledge of the restriction.
Even if a partner does not have either express or implied authority to act on behalf of the firm, his act can bind the firm if the same has been done in a situation of emergency..
By: santosh ProfileResourcesReport error
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