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Question
Sharon and Martha are general partners in the SM general partnership. Sharon, acting with authority, negotiated and signed for a $500,000 loan to SM from a bank. SM has not repaid this loan. The bank can recover its loan from:
A. Sharon only.
B. SM and Sharon; they are jointly liable only.
C. SM, Sharon, and Martha; they are jointly liable only.
D. SM, Sharon, and Martha; they are jointly and severally liable.
Answer
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