Question
3. Discuss the legal implication(s) in the following situation based on the Partnership Act 1961 and decided cases: Wang Yoo and Seung Nyang were partners
3. Discuss the legal implication(s) in the following situation based on the Partnership Act 1961 and decided cases: Wang Yoo and Seung Nyang were partners in a firm, operating a car wash business. Wang Yoo took a loan amounting to RM15,000 from Ta Hwan as capital for the firm's business. The loan was guaranteed by Tanashili. The firm failed to pay the loan and Tanashili had to pay instead. Tanashili took legal action against both, Wang Yoo and Seung Nyang to recover her money. However, Seung Nyang did not admit such liability and decided to retire from the partnership. Advise Seung Nyang.
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