Question
9. Richard Hunley, Nada Tas, Joseph Tas, and Kenneth Brown all became general partners of Parham-Woodman between 1986 and 1987. In 1985, Citizens Bank of
9. Richard Hunley, Nada Tas, Joseph Tas, and Kenneth Brown all became general partners of Parham-Woodman between 1986 and 1987. In 1985, Citizens Bank of Massachusetts loaned Parham-Woodman S2 million for the construction of a new office facility. When Parham- Woodman stopped making payments on the loan, the bank sold the building and sued the firm and the partners to recover the debt not paid. The partners argued that they were not liable for the debt because they had joined the firm after the loan agreement was made. Do you agree with them? Why or why not? [Citizens Bank of Massachusetts v. Parham-Woodman Medical Associates, 874 F. Supp. 705 (1995).]
1. Write analysis of the issue based on the following criteria: Identify the parties involved in the case dispute (who is the plaintiff and who is the defendant).
2. Identify the facts associated with the case and fact patterns. Develop the appropriate legal issue(s) in question (i.e., the specific legal issue between the two parties).
3. Provide a judgment on who should win the case - be clear. Support your decision with an appropriate rule of law.
4. Be prepared to defend your decision and to objectively evaluate the other points of view.
Please provide case conclusion along with the ANSWERS..
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