Answer to Question #292149 in Law for YAAL

Question

Sam, John and Ty are partners of the firm SJT & Associates. After a few years
doing business, the firm faced financial problems as a result of the COVID-19 pandemic. In an effort to save the firm, Ty has taken out a loan from a friend
Ben. Three months later, Sam retired from the partnership firm because he wanted to move to overseas. Sam's place was taken by Jeff, who was John's younger brother. After a while, Ben makes a claim for repayment of the loan money from Sam, John, Ty and Jeff.
Based on the situation above, discuss whether Sam and Jeff are also liable for
financial loans made from Ben. Support your answer with one (1)
statutory provisions and two (2) case authorities.

Answer 1

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