07 Jan 1. If a partnership contract does not state the pe
1. If a partnership contract does not state the period of time the partnership is to exist, when does the partnership end?2. What does the term mutual agency mean when applied to a partnership?3. Can partners limit the right of a partner to commit their partnership to contracts? Would such an agreement be binding (a) on the partners and (b) on outsiders?4. Assume that Amey and Lacey are partners. Lacey dies, and her son claims the right to take his mother’s place in the partnership. Does he have this right? Why or why not?