PARTNERSHIP ACT 1963 - SECT 13 Liability of partner
PARTNERSHIP ACT 1963 - SECT 13
Liability of partner(1) Each partner in a firm other than an incorporated limited partnership is liable jointly with the other partners in the firm for the debts and obligations of the firm incurred while the partner is a partner.
(2) If the partner is an individual, after the partner's death the dead partner's estate is severally liable in the due course of administration for the debts and obligations of the firm incurred while the dead partner was a partner that remain unsatisfied, but subject to the earlier payment of the dead partner's separate debts.
(3) Each general partner in an incorporated limited partnership is liable jointly with the incorporated limited partnership for the debts and obligations of the partnership incurred while the general partner is a general partner.
(4) If the general partner is an individual, after the general partner's death the dead partner's estate is severally liable in the due course of administration for the debts and obligations of the partnership incurred while the dead partner was a partner that remain unsatisfied, but subject to the earlier payment of the dead partner's separate debts.
(5) However, a general partner in an incorporated limited partnership is only liable for the debts and obligations of the partnership—
(a) to the extent the partnership cannot satisfy the debts and obligations; or
(b) to a greater extent provided by the partnership agreement.