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nership. In addition, as respondent points out, Mr. McDaniel has
been specializing in real estate law since 1969 and must have
known that, in order to be relieved of his share of the part-
nership's liabilities, he had to obtain from the Bank a formal
release of his liability as a guarantor of the Second Street
loan. The most favorable interpretation of the testimony of Mr.
McDaniel and Mr. Palermo would be that they merely assumed that
if Mr. Palermo were to receive Mr. McDaniel's share of the
partnership assets, Mr. Palermo should pay the partnership
obligations. Such an assumption does not satisfy the requirement
of section 620.735(3) that "a person agrees to assume the ex-
isting obligations of a dissolved partnership". On the instant
record, we find that petitioners have failed to meet their burden
of showing that Mr. Palermo agreed to assume Mr. McDaniel's share
of the obligations of Second Street. We further find on that
record that petitioners have failed to establish that the first
requirement of section 620.735(3) (i.e., that "a person agrees to
assume the existing obligations of a dissolved partnership") is
satisfied.
Assuming arguendo that we had found that Mr. Palermo agreed
to assume Mr. McDaniel's share of the obligations of Second
Street, petitioners also must show under section 620.735(3) that
NationsBank/Amresco knew of that agreement in 1993. Petitioners
admit that "There was no testimony that NationsBank was told that
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