Wayne A. Long, Sergio Lopez, and Don Bannister entered into a partnership agreement in which they formed Wood Relo (the partnership). The three partners agreed to share equally one-third of the profits and losses of the partnership. Further, all three partners were authorized to sign checks on Wood Relo’s bank account. Long entered into an office equipment lease with IKON Capital Corporation (IKON) on behalf of the partnership. Ultimately, Wood Relo was unable to continue its business. 

Long then negotiated a settlement with IKON for a total of $9,000. IKON had been claiming more than $16,000. An agreed judgment was entered in conjunction with the settlement agreement providing that if Long did not pay the settlement, Wood Relo and Long would owe IKON $12,000. Long then sent Lopez and Bannister a letter advising them that they were jointly and severally liable for the $9,000 that extinguished the partnership’s debt to IKON, plus attorney’s fees. When Lopez refused to pay anything, Long brought suit against him. Is Long liable for one-third of the debt and attorney’s fees? Explain.