Describe joint and several liability in a partnership.

Prepare for the ATT Law Exam. Practice with multiple choice questions, each providing hints and explanations. Be well-prepared for exam day!

Joint and several liability means a creditor can go after any one partner for the full amount of a partnership debt, and that partner can then seek contribution from the others. In a partnership, this liability attaches to all partners for debts incurred by the business. New partners are liable for debts incurred after they join, while retiring partners remain liable for debts incurred during their tenure unless creditors release them or new arrangements are made. So the description that captures this is that partners are jointly and severally liable for business debts; new partners are liable for debts incurred after joining; retiring partners are liable for debts incurred during tenure.