2 3 . Tom, Dick, and Harry were the three shareholders in Crazyco, an incorporated company with...
Fantastic news! We've Found the answer you've been seeking!
Question:
Tom, Dick, and Harry were the three shareholders in Crazyco, an incorporated company with limited liability. Each held onethird of the shares in Crazyco. Crazyco borrowed $ from the bank to finance its operations. Each had to personally guarantee the full amount of the loan. The business didn't work out and Crazyco was unable to repay the loan. The bank sued Crazyco, and learned that it had no assets. The bank then sued Tom, Dick, and Harry to recover the $
The maximum amount that it could recover from any one of them was
Posted Date: