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anything in furtherance of the Partnership business” amounted to
a grant of agency from the partners to the general partners
sufficient for a general partner to enter into an agreement with
the Secretary to extend the 3-year period. See supra at 297.
Here, in pertinent part, the DV-85 limited partnership agreement
provides:
11.1 ‘Management and Control of the Partnership”
11.1.a Subject to the consent of the Limited Partners
where required by this Agreement, the General Partners,
with the authority granted under this Agreement, shall
have the exclusive right to manage the business of the
Partnership and are hereby authorized to take any
action of any kind and to do anything and everything
they deem necessary in accordance with the provisions
of this Agreement. In decisions by the General
Partners, vote by a majority of them shall be
determinative.
* * * * * * *
11.2 “Authority of the General Partners”
11.2.a Except to the extent otherwise provided herein,
the General Partners (or their designated agent) for,
and in the name and on behalf of the Partnership, are
hereby authorized:
* * * * * * *
(11) to engage in any kind of activity and to perform
and carry out contracts of any kind necessary to, or in
connection with, or incidental to the accomplishment of
the purposes of the Partnership, as may be lawfully
carried on or performed by a partnership under the laws
of each state in which the partnership is then formed
or qualified.
There are no pertinent restrictions on the authority of the
general partners, and, thus, sections 11.1.a, 11.2.a, and (11) of
the DV-85 agreement provide a grant of agency at least as broad
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