Multiple choice

Find the correct legal statement from following statements.

  1. Every partner is liable, severally with all the other partners and jointly, for all acts of the firm done while he is a partner.

  2. Every partner is liable, jointly with all the other partners and severally, for all acts of the firm done while he is a partner.

  3. Every partner is liable only for acts done by him as acts of the firm done while he is a partner.

  4. Sleeping partner is not liable for acts done by him as acts of the firm done while he is a partner.
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B Correct answer
Explanation

Option (2) is correct: Section 25 of the Partnership Act states that every partner is liable, jointly with all the other partners and also severally, for all acts of the firm done while he is a partner.

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