This section is from the book "Elementary Banking", by John Franklin Ebersole. Also available from Amazon: Elementary Banking.
A partner is liable to creditors to the extent of his whole fortune. The creditor's action must be against all the partners, but if he recovers judgment he may collect the entire amount out of the individual property of one partner, and is not bound to try to collect it out of the partnership property. Of course, the partner whose property is thus taken could sue the others to make them repay him. Suppose the creditor had proceeded against the partnership property but it was insufficient to pay his claim. He could then proceed against the individual property of each of the partners to collect the balance. One partner will be liable for the whole debt if the others are insolvent. (The points of law covered in this paragraph are not uniformly established; there are some authorities holding otherwise.)
 
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