Which of the following characteristics is highlighted in the statement: "He can bind other partners by his acts and also is bound by the acts of other partners with regard to the business of the firm."
- AAgreement between Partners
- BLiability of Partners
- CSharing of Profit
- DMutual Agency
Solution & Step-by-step Explanation
The statement explicitly outlines the concept of Mutual Agency, where every partner acts simultaneously as both a principal and an agent for all other partners in transactions regarding the regular business of the firm.