Essay
Morgan,Slater,and Jergenston were partners in a legal consulting partnership.Jergenston pocketed $500,000 he had solicited in bank loans for expanding the partnership.When Morgan and Slater discovered Jergenston's impropriety,Jergenston told them,"Tough luck,but as partners,we are jointly liable on this debt and must pay off the $500,000 plus interest together." Was Jergenston correct? Explain.
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Jergenston was not correct.Partners who ...View Answer
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