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Liability of partners in a registered partnership firm is:
ALimited to their capital contribution
BSeveral only
CLimited to the partnership deed
DJoint and several for all firm acts done while a partner
Answer & Solution
Correct answer: D. Joint and several for all firm acts done while a partner
1. Section 25 of the Indian Partnership Act, 1932 — partners are JOINTLY and SEVERALLY liable to all third parties for acts of the firm done while they were partners.
2. Limited liability is available only in an LLP.
3. Hence (B).
_Source: ICAI BoS CA Inter Paper 2 — Indian Contract Act 1872_