Rosinoff and his wife, who were business partners, entered bankruptcy. A creditor, Baldwin, objected to their discharge

Question:

Rosinoff and his wife, who were business partners, entered bankruptcy. A creditor, Baldwin, objected to their discharge in bankruptcy on the grounds that
(a) The partners had obtained credit from Baldwin on the basis of a false financial statement;
(b) The partners had failed to keep books of account and records from which their financial condition could be ascertained; and
(c) Rosinoff had falsely sworn that he had taken $70 from the account when the amount he took was actually $700. Were the debtors entitled to a discharge?

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...