Partnership Liability for Each Type of Partnership

Partnership Liability for Each Type of Partnership Whether you are personally liable for the acts of other partners depends on what kind of partnership you are in. If you are in a general partnership, you are personally liable for all acts of the other partners. In a limited partnership, which has both general and limited partners, general partners are personally liable for acts of other partners, but limited partners generally are not liable for obligations in excess of their monetary contributions to the partnership. In a limited liability partnership, partners generally are not personally liable for acts of other partners.

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