XXCanucksXX

The answer will depend on if the business is incorporated or if it is merely a partnership. If its a partnership, then each of the partners will be personally liable assuming the contract was taken on by the partnership and not an individual partner in his personal capacity. If its a standard corporation, the corporation will be liable and the Rogers may be able to pierce the corporate veil and sue a director or senior corporate management position in certain circumstances (such as fraud). There's also the chance that it could be a less common corporation structure (as @ibesawesomey mentioned, the LLC, LLP, etc.) - those would keep liability in a partnership focused on the individual that committed the fraud rather than allowing Rogers to reach the other partners.

The way the question is worded @Fateless, @ibesawesomey

would seem it's a partnership.

Making the business, or partners liable. Considering Toby retired, ( I assume he sold his shares back to the partnership) and Baker is dead - "I", the business is liable, but is in a position to sue the Baker estate for damages so long as "I" can prove he wasn't complicit in the asset con.

@luckylager - If its a standard partnership, there won't be any shares at all. When Toby retired, he effectively severed himself from the partnership and wouldn't have any liability for acts undertaken after he left. That would leave the business, Baker's estate (potentially), and "I" for liability - and Rogers will go after whoever has the most readily available assets.