If you are a limited partner in a limited partnership, you are not an agent for the partnership or for any general partner or other limited partner. You do not have the power to make decisions that affect them. This means you cannot bind any of them to a decision or agreement.
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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM1139197.
45: Defence of partial solvency, or
"When a partnership has some money, but not enough, you might not have to pay as much if you can prove it could have survived with a smaller payment."
47: General partner is agent of limited partnership, or
"General partner makes decisions for the limited partnership"
A limited partner is not the agent of the limited partnership or of any general partner or of any other limited partner, and has no authority to bind any of them.
