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Extent of Lia Bility


EXTENT OF LIA BILITY. Apparently opposed to the principle of the common law that partnership obligations are joint is the further principle that each partner is responsible in solido for all the debts of the firm. The action to es tablish the liability is joint, as common law process was not remodeled to conform to firm transactions, but the liability itself is several. Hence each partner in a general partnership is personally and individually lia ble for the entire firm debt, however arising. And this is so whether the other partners are able to contribute or not, and without regard to the proportion of interest the partners may have in the firm.

The partner represents his copartners and a judg ment against him for a firm obligation entitles the creditors to seize and sell the firm property. (J. Pars., Part., Sec. 95.) And a judgment against the firm may be satisfied out of one or more of the partners' indi vidual property, without regard to the firm property. But this rule may be varied by statute. And a part ner who has thus been compelled to pay a firm debt may enforce contribution from his copartners. (Me chem on Part., Secs. 215-216.)