General partners' personal assets are at risk both together and separately for all debts and liabilities of the partnership regardless of the source of the debt or liability is called

Question

Quizplus · Accepted Answer

Joint and several liability means that each partner is individually responsible for the entire debt of the partnership as well as being collectively responsible. This legal principle puts personal assets of general partners at risk for the partnership's obligations.

General Partners' Personal Assets Are at Risk Both Together and Separately