John and Amy form a partnership which is later incorporated. The corporation enters into a limited partnership with SEWEE, Inc., a provider of swine supplies to local farmers. SEWEE, Inc. goes "belly-up" -out of business- and its creditors sue SEWEE and her owners/investors. What, if any, recourse is available to John and Amy? In essence, what would happen to the assets of their corporation?

 

Answer rating: 100% (QA)

The outcome depends on the specifics of the partnership agreement and corporate structure Under norm... View the full answer