Giovanni and Leporello were in partnership together under the registered name Adventures Unlimited. The partnership was...

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Giovanni and Leporello were in partnership together under the registered name "Adventures Unlimited." The partnership was formed for the purpose of providing guided adventure vacations for rich clients. Under a clause in the partnership agreement, it was provided that neither partner may incur expenditures on behalf of the firm in excess of $500 without the approval of the other partner. Giovanni purported to enter into a contract-in the name of Adventures Unlimited-with Elvira Sails Ltd. (a corporation engaged in selling and leasing boats) to rent a large cabin cruiser for a period of three months, at a rent of $10 000 per month. He signed the rental agreement in his own name, paid a deposit for $1000 by a cheque drawn on the partnership's bank account, took delivery of the cruiser, and has not been seen since. The cruiser was reportedly last seen in the Virgin Islands. What rights (if any) does Elvira Sails have against Leporello? Giovanni and Leporello were in partnership together under the registered name "Adventures Unlimited." The partnership was formed for the purpose of providing guided adventure vacations for rich clients. Under a clause in the partnership agreement, it was provided that neither partner may incur expenditures on behalf of the firm in excess of $500 without the approval of the other partner. Giovanni purported to enter into a contract-in the name of Adventures Unlimited-with Elvira Sails Ltd. (a corporation engaged in selling and leasing boats) to rent a large cabin cruiser for a period of three months, at a rent of $10 000 per month. He signed the rental agreement in his own name, paid a deposit for $1000 by a cheque drawn on the partnership's bank account, took delivery of the cruiser, and has not been seen since. The cruiser was reportedly last seen in the Virgin Islands. What rights (if any) does Elvira Sails have against Leporello?

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In this scenario Giovanni has purported to enter into a contract on behalf of the partnership Advent... View the full answer