Shawnequa Is a Partner of Cost Hydrohut LLP,an Accounting Limited

question 38

Essay

Shawnequa is a partner of Cost Hydrohut LLP,an accounting limited liability partnership.One of Shawnequa's partners negligently audits a client,with the result that a bank that relied on the client's audited financial statements suffers damages when the client fails to repay the loan.The bank sues Cost Hydrohut,but its assets are insufficient to pay the entire damages.Will the bank be able to collect the remaining damages from Shawnequa's personal assets?

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Definitions:

Antihistamines

Medications used to treat allergies.

Over-The-Counter Medications

Medicines that can be bought without a prescription from a healthcare professional.

Allergies

Immune system reactions to a foreign substance that most people tolerate, manifesting symptoms like itching, sneezing, or hives.

Immunoglobulin

A group of large Y-shaped proteins, also known as antibodies, that are used by the immune system to identify and neutralize foreign objects like bacteria and viruses.