Tonya and Maurice form a partnership to sell decorative rock for landscaping purposes. They are having trouble getting business and loans for inventory. In order to obtain a loan, Tonya falsely tells ABC bank that her parents are partners in the business. Her parents find out when they receive confirmatory letters from the bank but take no steps to provide correct information. Tonya and Maurice default on a loan to ABC Bank, and the bank sues Tonya's parents. Will the bank likely prevail, and why or why not?

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The Answer of Tonya and Maurice form a partnership to sell decorative rock for landscaping purposes. They are having trouble getting business and loans for inventory. In order to obtain a loan, Tonya falsely tells ABC bank that her parents are partners in the business. Her parents find out when they receive confirmatory letters from the bank but take no steps to provide correct information. Tonya and Maurice default on a loan to ABC Bank, and the bank sues Tonya's parents. Will the bank likely prevail, and why or why not?

Tonya and Maurice Form a Partnership to Sell Decorative Rock