Part 3Relationship of partners to third persons and to each other
Relationship of partners to third persons
22Liability of partners for firm’s debts and obligations
Every partner (A) is liable jointly with the other partners for all debts and obligations of the firm incurred while A is a partner.
After A’s death, A’s estate is also severally liable in a due course of administration for those debts and obligations to the extent that they remain unsatisfied.
However, subsection (2) is subject to the prior payment of A’s separate debts.
Compare
- 1908 No 139 s 12