In a partnership, each of the partners is liable to third parties for debts of the partnership in proportion to his or her ownership interest in the partnership.

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In a general partnership, each partner is jointly and severally liable for the debts of the partnership, regardless of their ownership interest. This means each partner can be held responsible for the full amount of the partnership's debts, not just a portion corresponding to their ownership stake.

In a Partnership, Each of the Partners Is Liable to Third