4.18 General Partnership-Liability of Partner-No Issue as to Partnership, Agency, or Scope of Authority is a type of legal agreement between two or more individuals to form a business partnership. This type of partnership is different from a limited liability company (LLC) as the partners are personally liable for the debts and obligations of the business. The partners are also jointly and severally liable, meaning that each partner is liable for the debts and obligations of the business regardless of whether the other partners are liable. This type of partnership also does not have any issue as to partnership, agency, or scope of authority. This means that the partners are solely responsible for the management of the business and for the contracts they make in the name of the partnership.
4.18 General Partnership-Liability of Partner-No Issue as to Partnership, Agency, or Scope of Authority
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