George is a partner of Sprockets LLP, an accounting partnership. One of George's partners, Elroy, negligently audits a client, with the result that Spacely First National, a bank that relied on the client's audited financial statements suffers damages when the client fails to repay the loan. The bank sues Sprockets, but its assets are insufficient to pay the entire damages. Will the bank be able to collect the remaining damages from George's personal assets?

Answer rating: 100% (QA)

In a general partnership each partner is personally liable for ... View the full answer