Harry Lipson was the president of The Folktree Concertmakers, Inc. To obtain concert advertising in the Boston Globe, Lipson completed the newspaper’s “Standard Application for Credit.” He signed the application “Harry Lipson as President of Folktree Concertmakers, Inc.” The application package also contained a form called a Guaranty, which he signed simply as “Harry Lipson.” Between 1970 and 1995, Folktree placed about $67,000 in advertising with the paper but failed to pay bills totaling $8,556.55. The Boston Globe Newspaper Co. sued both Folktree and Lipson, and the trial court granted summary judgment for the newspaper. Lipson appealed on the ground that he was not personally liable for the debt. Can Lipson be held personally liable for the debt? What should the appellate court decide? Discuss fully.