Liability of General Partners Pat McGowan, Val Somers, and Brent Robertson were general partners of Vermont Place, a limited partnership formed for the purpose of constructing duplexes on an undeveloped tract of land in Fort Smith, Arkansas The general partners appointed McGowan and his company, Ad...

Facts of the case PM VS and BR were common associates of Vplace a limited partnership made with the ...

Liability of General Partners Pat McGowan, Val Somers, and Brent Robertson were general partners of Vermont Place,

Question:

Liability of General Partners Pat McGowan, Val Somers, and Brent Robertson were general partners of Vermont Place, a limited formed for the purpose of constructing duplexes on an undeveloped tract of land in Fort Smith, Arkansas. The general partners appointed McGowan and his company, Advance Development Corporation, to develop the project, including contracting with materials people, mechanics, and other suppliers. None of the limited partners took part in the management or control of the Eight months later, Somers and Robertson discovered that McGowan had not been paying the suppliers. They removed McGowan from the and took over the project. The suppliers sued the to recover the money owed them. The assets were not sufficient to pay all their claims. Who is liable to the suppliers?
Who is liable in that case? Do you agree with the decision?
Partnership
A legal form of business operation between two or more individuals who share management and profits. A Written agreement between two or more individuals who join as partners to form and carry on a for-profit business. Among other things, it states...