Resolution Trust Corp. v. Copley Qu-Wayne Associates

OPINION OF THE COURT

CAPPY, Justice:

We granted allocatur to address the issues of whether the Superior Court erred in ordering that a judgment entered by confession be vacated because of a lack of authority of the managing general partner to execute an instrument containing a confession of judgment clause on behalf of his co-partners and whether the Superior Court erred in deciding that the managing general partner of the partnership in this case did not have the authority to incur debt on behalf of the partnership. For the reasons that follow, we reverse the decision of the Superior Court and…