Which party is equally liable in a general partnership?

In a general partnership, all general partners share equal liability for the debts and obligations of the partnership. This means that each partner is personally responsible for the partnership's liabilities, regardless of their level of involvement in its day-to-day operations. This structure is designed to ensure that all partners have a vested interest in the success and financial health of the business, as they can be held liable for any obligations incurred by the partnership.

Additionally, since all partners contribute to the management and operations of the business, any partner can make decisions that impact liability. This collective responsibility is a fundamental characteristic of a general partnership, distinguishing it from other business structures like limited partnerships, where some partners may have limited liability. In contrast, options indicating that only specific partners hold liability do not reflect the principles of a general partnership's shared responsibility.