Tom and Jim from JT Co.plan to engage in the building construction business.They obtain contracts in the name of JT Co. ,but fail to keep separate bank accounts for JT Co.funds,placing JT Co.money in their personal bank accounts.In addition,much of the JT Co.equipment is titled in the name of Tom and Jim.JT Co.breaches a construction contract with Titan Co.Discuss if Tom and Jim might have personal liability for this breach of contract.

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The Answer of Tom and Jim from JT Co.plan to engage in the building construction business.They obtain contracts in the name of JT Co. ,but fail to keep separate bank accounts for JT Co.funds,placing JT Co.money in their personal bank accounts.In addition,much of the JT Co.equipment is titled in the name of Tom and Jim.JT Co.breaches a construction contract with Titan Co.Discuss if Tom and Jim might have personal liability for this breach of contract.