Answer:
True
Explanation:
A partnership is a business association where businesses are co-owned by two or more persons referred to as partners who share the business profits and the liabilities according to the set rules in a document called the deed of partnership.
Personally, partners in a partnership are liable for the for the obligations of a partnership.
Thus if the partnership i.e the business does not have or possess the wherewithal to pay the creditors or even otherwise, the business of the partnership fails, then the partners are personally responsible to pay up the creditors who have the legal backing to pursue personal assets of these partners as payments for the failed partnership liabilities
