3.__Presumed to be partnership property.__Property is presumed to be partnership property if purchased with partnership assets, even if not acquired in the name of the partnership or of one or more partners with an indication in the instrument transferring title to the property of the person's capacity as a partner or of the existence of a partnership.

4.__Presumed to be separate property.__Property acquired in the name of one or more of the partners, without an indication in the instrument transferring title to the property of the person's capacity as a partner or of the existence of a partnership and without use of partnership assets, is presumed to be separate property, even if used for partnership purposes.

SUBCHAPTER 3

RELATIONS OF PARTNERS TO

PERSONS DEALING WITH PARTNERSHIP

§1031.__Partner agent of partnership

1.__Partner as agent.__Each partner is an agent of the partnership for the purpose of its business.__An act of a partner, including the execution of an instrument in the partnership name, for apparently carrying on in the ordinary course the partnership business or business of the kind carried on by the partnership binds the partnership, unless the partner had no authority to act for the partnership in the particular matter and the person with whom the partner was dealing knew or had received a notification that the partner lacked authority.

2.__Other act binding on partnership if authorized.__An act of a partner that is not apparently for carrying on in the ordinary course the partnership business or business of the kind carried on by the partnership binds the partnership only if the act was authorized by the other partners.

§1032.__Transfer of partnership property

1.__Transfer of partnership property.__Partnership property may be transferred as follows.

A.__Partnership property held in the name of the partnership may be transferred by an instrument of transfer executed by a partner in the partnership name.