34.3 Mergers. Tally Ho Co. was merged into Perfecto Corp., with Perfecto being the surviving corporation in the merger. Hanjo, a creditor of Tally Ho, brought suit against Perfecto Corp. for payment of the debt. The directors of Perfecto refused to pay, stating that Tally Ho no longer existed and that Perfecto had never agreed to assume any of Tally Ho’s liabilities. Discuss fully whether Hanjo will be able to recover from Perfecto.