Pennsylvania § 8436 Partner's liability

Pennsylvania Statutes

§ 8436 — Partner's liability

Pennsylvania·Title 15 CORPORATIONS AND UNINCORPORATED ASSOCIATIONS·Part PART III·Ch. 84 GENERAL PARTNERSHIPS·Subch. RELATIONS OF PARTNERS TO PERSONS

(a)General rule.--Except as provided in subsection (b) or section 8204 (relating to limitation on liability of partners), all partners are jointly and severally liable for all debts, obligations and other liabilities of the partnership unless otherwise agreed by the claimant or provided by law.

(b)Preexisting liabilities.--A person that becomes a partner is not personally liable for a debt, obligation or other liability of the partnership incurred before the person became a partner.

Free access — add to your briefcase to read the full text and ask questions with AI

(a) General rule.--Except as provided in subsection (b) or section 8204 (relating to limitation on liability of partners), all partners are jointly and severally liable for all debts, obligations and other liabilities of the partnership unless otherwise agreed by the claimant or provided by law.

(b) Preexisting liabilities.--A person that becomes a partner is not personally liable for a debt, obligation or other liability of the partnership incurred before the person became a partner.

Pennsylvania § 8436 (Partner's liability) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.