Law · Partnership Law
Under general partnership rules, what is the extent of liability of a partner (Fi) who has an internal agreement limiting her liability to £100,000, when third-party partnership debts exceed this amount?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Fi is jointly liable to third parties for all debts, but may claim back any excess paid over £100,000 from the other partners under internal indemnity✓
- 2Fi is jointly liable for all partnership debts and cannot claim indemnity from co-partners
- 3Fi is liable to third parties only up to £100,000
- 4Fi has no liability for any of the partnership debts
Correct answer
Fi is jointly liable to third parties for all debts, but may claim back any excess paid over £100,000 from the other partners under internal indemnity
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