Under the Uniform Partnership Act Regarding Personal Liability of Partners

Multiple Choice

Under the Uniform Partnership Act regarding personal liability of partners, if the partnership itself is liable, how is the allocation of personal liability distributed among the partners?

A) If a partnership is liable, each partner has unlimited personal liability no matter how many partners.
B) If a partnership is liable, each partner will pay only their allocation according to the partnership agreement.
C) If a partnership is liable, no partner has personal liability.
D) If a partnership is liable, each partner will share in the loss dependent on work allocations.
E) Only the senior partners have unlimited personal liability, junior partners are not held liable.