Under the RUPA, the partners have what type of liability for all contract obligations of the partnership?
A) Joint.
B) Joint and several.
C) Several.
D) None.

Question

Quizplus · Accepted Answer

Under the Revised Uniform Partnership Act (RUPA), partners have joint and several liability for all contract obligations of the partnership. This means that a third party can choose to hold all partners collectively (jointly) or one or more partners individually (severally) responsible for the full amount of the obligation.

Under the RUPA, the Partners Have What Type of Liability