Algernon never paid the sums due on the contract

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Reference no: EM131795622

Arnold was the sole shareholder, president, and CEO of Algernon Enterprises, Inc. Acting on behalf of Algernon, Arnold negotiated the purchase on credit of inventory from Amax. The contract was signed in the name of Algernon Enterprises. Algernon never paid the sums due on the contract, and Arnold and the corporation were sued. What is the liability of Arnold?

Reference no: EM131795622

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