Section 410. Agency and partnership

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Article 2. Second Year

Legal principles of agency law including definition of the agency relationship, authority and power of agents, notice and knowledge, rights and duties between participants in the relationship, termination of agency relationship, master-servant relationship. Partnership law using the Uniform Partnership Act as a model code. Topics include: formation, partners' rights and duties between themselves, powers, unauthorized acts, notice and knowledge, incoming partner liability, indemnification, contribution, partner's two-fold ownership interest, co-ownership interests and liabilities, creditor's claims and remedies, dissolution events, winding up, distribution of asset rules. Study of the Uniform Limited Partnership Act and joint venture law.

Historical Notes

Derived from VR168-01-04 § 9.7, eff. March 1, 1993.

Statutory Authority

§§ 54.1-3922 and 54.1-3926 of the Code of Virginia.

                    
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