Northern Territory Numbered Acts Northern Territory Numbered Acts(1) Each partner in a firm other than an incorporated limited partnership is jointly and severally liable for a liability referred to in section 14(1) or 15(1) incurred by the firm while the partner is that partner.
(2) Each general partner in an incorporated limited partnership is jointly and severally liable for a liability referred to in section 14(2) or 15(2) incurred by the partnership while the general partner is that general partner.
(3) However, the general partner is only liable –
(a) to the extent to which the partnership cannot satisfy the liability; or
(b) to a greater extent provided by the partnership agreement.