Partnership Act 1997

Each partner in a firm other than an incorporated limited partnership is liable jointly with the other partners for liabilities incurred by the firm while the partner is that partner.

Each general partner in an incorporated limited partnership is liable jointly with the partnership for liabilities incurred by the partnership while the general partner is that general partner.

The estate of the partner referred to in subsection (1), or of the general partner referred to in subsection (2), is liable severally for the liabilities referred to in that subsection:

to the extent to which the liabilities remain unsatisfied; and

only after the separate liabilities of that partner or general partner have been satisfied.

However, the general partner or the general partner's estate is only liable for the liabilities:

to the extent to which the partnership cannot satisfy the liabilities; or

to a greater extent provided by the partnership agreement.