A general partnership law firm signed a 10-year lease for office property with Sheehan, a partner in the law firm. Sheehan withdrew from the law firm and assigned his partnership interest to the remaining partners. Five years later, the law firm defaulted on the lease and filed for bankruptcy. Sheehan sued all past and present law firm partners for past due rent. The trial court held that the personal assets of the original partners who signed the lease were not at stake, nor were assets of current partners; only the assets of the bankrupt partnership were available. Is that correct? Feel free to personalize your idea

Sample Solution

This question has been answered.

Get Answer