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Under Section 49, where there are joint (firm) debts and separate (partner) debts, the firm's property is applied:
AFirst to the firm's debts, with any surplus going to partners
BFirst to the partners' separate debts
CTo the partner with the largest share
DEqually to both kinds of debts
Answer & Solution
Correct answer: A. First to the firm's debts, with any surplus going to partners
Section 49 applies firm property first to firm debts (surplus to partners), and a partner's separate property first to his separate debts (surplus to firm debts).
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