Question

McCoy and Gugelman formed a partnership to operate an antiques business. The partnership borrowed money from Security State Bank. One of the partners signed a promissory note to the bank on behalf of the partnership. When the partnership defaulted on the note, the bank sued the partners individually rather than suing the partnership. The partners argued that before they could be sued, the bank first had to sue the partnership and get a judgment against it. Was this claim correct?


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  • CreatedSeptember 15, 2015
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