Four surgeons conducted their medical practices through a general partnership they owned, which obtained a $1.5 million loan from enterprise bank. the loan was secured by personal guarantees of the four doctors, each for $375,000. the partners have an agreement in writing that they will all equally liable for any debts of the partnership. two doctors then moved away. when the partnership failed to pay the remaining loan balance of $500,000, enterprise moved to enforce the personal guarantees by the two remaining doctors and won a judgment. those two doctors contended that they were only liable for one-quarter of the outstanding balance. who is liable for the judgment?

The new york times (nov. 30, 1993) reported that “the inability of opec to agree last week to cut production has sent the oil market into turmoil . . [leading to] the lowest price for domestic crude oil since june 1990.” why were the members of opec trying to agree to cut production? so they could save more oil for future consumption so they could lower the price so they could raise the price why do you suppose opec was unable to agree on cutting production? because each country has a different production capacity because each country experiences different production costs because each country has an incentive to cheat on any agreement the newspaper also noted opec’s view “that producing nations outside the organization, like norway and britain, should do their share and cut production.” what does the phrase “do their share” suggest about opec’s desired relationship with norway and britain? opec would like norway and britain to keep their production levels high. opec would like norway and britain to act competitively. opec would like norway and britain to join the cartel.