.Paul, Paddy and Patricia are lawyers who practice law in a general partnership called "P3, Attorneys at Law." The three decide to convert the general partnership into a limited liability partnership and each formally votes in favor of the change. Paul thereafter prepared a statement of qualification and filed it with the Secretary of State on January 1 2016. The statement identified the partnership’s name as "P3 LP." On December 1 2015, a court entered a judgment against "P3 Attorneys at Law" in a breach of contract case. The judgment was in the amount of $50,000. On February 1, 2016, a court entered a judgment against P3 LP and Paul in a legal malpractice case. The judgment was in the amount of $50,000.
The partnership had assets of $25,000 as of December 1, 2015 and did not have any net income from that date forward. The judgment creditor in the breach of contract case enforced its judgment and then the
judgment creditor in the legal malpractice case enforced her judgment.
Please discuss the issues raised in this fact pattern.