partnership act

vijeta (Querist) 23 January 2010 This query is : Resolved
in a partnership firm a partner is jointly and severally liable.what is severally liable.does this mean a partner can be made liable unlimitedly?

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Devajyoti Barman (Expert) 24 January 2010
'Severally' mean that the one individual partner may be held accountable for compensation for the acts done by any or all the member of the firm if that acts are made in the course of ordinary business of the firm.
However that particular partner can initiate proceeding against the other partner/s for contribution of their share in the compensation borne by the said single partner.

Parveen Kr. Aggarwal (Expert) 24 January 2010
Partnership is mutual agency and each partner is agent of the other. In case of partnership, each partner of the firm is liable along with other partner(s) as well as individually. Yes, a partner has liability without limits.

N RAMESH. (Expert) 24 January 2010
Here "severally" means individually or independently.

A partner is individually liable as also liable along with other partners.

Guest (Expert) 30 January 2010
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