General partners of a limited partnership remain jointly and severally liable for partnership obligations.

Question

Quizplus · Accepted Answer

This is true. General partners in a limited partnership are responsible for the debts and obligations of the partnership, and their liability is not limited to the amount of their investment in the partnership. This means that if the partnership cannot pay its debts, the general partners can be held personally responsible for the remaining amount owed.

General Partners of a Limited Partnership Remain Jointly and Severally