Case Problem:
Rice and Campbell were doing business as partners. They entered into an agreement with Travelers to write money orders. The partnership sold some of the money orders but failed to send the money to Travelers. To secure the debt, the partnership gave a promissory note to Travelers, with a guaranty by Campbell. When the note wasn’t paid, Travelers sued both partners. Rice claimed that he was liable only if Campbell didn’t pay. Was Rice correct? (Rice v. Travelers Express Company, Tex. 407 S.W.2d 534)
Your answer must be typed, double-spaced, Times New Roman font (size 12), one-inch margins on all sides, APA format and also include references.