EMERSON C. HARRINGTON, GOVERNOR. 311

(a) As a debt by installments or otherwise,

(b) As wages of an employee or rent to a landlord,
(c) As an annuity to a widow or representative of a de-
ceased partner,

(d) As interest on a loan, though the amount of payment
vary with the profits of the business,

(e) As the consideration for the sale of the good-will of a
business or other property by installments or otherwise.

SEC. 8. (Partnership Property. ) (1) All property origi-
nally brought into the partnership stock or subsequently ac-
quired, by purchase or otherwise, on account of the partner-
ship is partnership property.

(2) Unless the contrary intention appears, property ac-
quired with partnership funds is partnership property.

(3) Any estate in real property may be acquired in the
partnership name. Title so acquired can be conveyed only in
the partnership name.

(4) A conveyance to a partnership in the partnership name,
though without words of inheritance, passes the entire estate of
the grantor unless a contrary intent appears.

PART III.

Relations of Partners to Persons Dealing with the Partnership.

SEC. 9. (Partner Agent of Partnership as to Partnership
Business. ) (1) Every partner is an agent of the partner-
ship for the purpose of its business, and the act of every part-
ner, including the execution in the partnership name of any
instrument, for apparently carrying on in the usual way the
business of the partnership of which he is a member binds the
partnership, unless the partner so acting has in fact no author-
ity to act for the partnership in the particular matter, and the
person with whom he is dealing has knowledge of the fact that
he has no such authority.

(2) An act of a partner which is not apparently for the
carrying on of the business of the partnership in the usual way
does not bind the partnership unless authorized by the other
partners.

(3) Unless authorized by the other partners or unless they
have abandoned the business, one or more but less than all the
partners have no authority to: