Alaska Continental Bank v. Anchorage Commercial Land Associates

RABINOWITZ, Justice.

This appeal is governed by the law of Hawaii.1 The main dispute concerns the liability of a limited partnership for a loan negotiated by its former general partner and Alaska Continental Bank. The issues presented are whether the limited partners ratified the bank loan, and whether the partnership is estopped to deny the validity of the loan. The counterclaim raises the question whether the limited partnership should have paid the bank pursuant to an assignment executed by a limited partner in an unrelated transaction. The superior court entered judgment for the…