Two years ago the Citizens Bank lent The Carlin & Hickel Partnership two million dollars. Now the firm is defaulting on their monthly payments. Which of the following partners will be liable on this loan?
A) 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
B) all six limited partners
C) a partner that died six months ago
D) a partner who has been with the firm for less than two years
E) a partner that retired from the firm last summer and obtained, through novation, a liability release from this loan
Correct Answer:
Verified
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