The partnership defaulted on the note. After the property was sold, a deficiency of $920,000 was left.
These events took place in Texas. Under Texas law general partners of a limited partnership are personally liable to creditors for the limited partnership's debts the same as a partner in a general partnership.
Clinton argues that because the guarantee limits his liability to 25% of the indebtedness, his liability as general partner is similarly limited. How do you think the court should rule?
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