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Sagot :
The contracts concluded by John and William respectively would not be binding on them because there was no prior knowledge from the other partners as it exceeded the amount and William is not entitle to sign any contract.
What does binding mean in a contract?
A “binding contract” is said to be a kind of agreement that is known to be legally enforceable.
That implies that if a person sign a binding contract and does not stand or fulfill their end of the contract, the other party is said to be able to take the person to court.
The above contract is binding because the terms of their partnership agreement, is that only John may contract with outsiders on behalf of the partnership.
Learn more about contracts from
https://brainly.com/question/984979
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