(1) He can purchase any goods dealt in by the firm or usually employed in such a business (but not other goods; a partnership in the hardware business would not have any implied power to buy groceries - so if one member of such a partnership purchased, in the firm name, some groceries, the partnership would not be bound); (2) he can sell or mortgage any personal property of the firm (but he cannot sell real estate belonging to the firm); (3) he can receive payment of debts due the firm; (4) he can give receipts; (5) he can engage agents and employees for the firm; (6) he can borrow money on the firm's credit; (7) he can make, accept and indorse bills and notes in the case of a trading firm (a firm that buys or sells) but not in the case of a non-trading partnership (such as a hotel firm or a law firm). A partner cannot: (1) Assign the partnership property to any one else in trust for a creditor or even for all the creditors; (2) dispose of the firm's good will; (3) dispose of all the partnership's property at one time, unless it consists only of merchandise; (4) bind the firm by a contract of guaranty of his own or anybody else's debt (unless this is the business of the firm); (5) do any act that would make it impossible to carry on the partnership's ordinary business; (6) bind the firm by a deed. Since each partner is an agent of the others he must not make any secret profits while acting within the scope of the partnership business. As each partner is an agent of the firm for the purpose of the firm's business, his acts apparently made in the interest of the firm will bind the partnership, unless: (1) He has no authority to act; or (2) the person with whom he deals has knowledge of this lack of authority. A third person is held to know of this lack of authority when: (1) He actually knows it; or (2) knows other facts from which an ordinarily prudent person would come to know it. The relationship of partners to third parties will also be governed by each partner's power to make contracts, etc. Each partner is liable jointly and severally with the others for all the debts of the partnership.