PARTNERSHIP BY ESTOPPEL
\pˈɑːtnəʃˌɪp ba͡ɪ ɛstˈɒpə͡l], \pˈɑːtnəʃˌɪp baɪ ɛstˈɒpəl], \p_ˈɑː_t_n_ə_ʃ_ˌɪ_p b_aɪ ɛ_s_t_ˈɒ_p_əl]\
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A legal, binding partnership that may occur where previously, no formal partnership agreement was in place. A person who exhibits such conduct, or says words which represent, or allow him to be represented, as a partner in any firm becomes liable to any loans or credits that are obtained by the firm. It is also known as the presumption of partnership.
By Henry Campbell Black
Word of the day
Dopamine Acetyltransferase
- An enzyme that catalyzes the of groups from acetyl-CoA to arylamines. They have wide specificity for aromatic amines, particularly serotonin, and can also catalyze acetyl transfer between arylamines without CoA. EC 2.3.1.5.