Two years ago the Citizens Bank lent the Carlin & Hickel Partnership $2 million.Now the firm is defaulting on their monthly payments.Which of the following partners will be liable on this loan?
A) a partner who died six months ago
B) a partner who retired from the firm last summer and obtained,through novation,a liability release from this loan
C) a person who is not actually a partner but is currently allowing himself to be represented as a partner so the firm can refinance this Citizens Bank loan
D) all six limited partners
E) a partner who has been with the firm for less than two years
Correct Answer:
Verified
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