Explanation:

 A partner is an agent of the firm for the purpose of the business of the firm. Therefore, all the partners of the firm become liable for an act of the firm by any partner. As regards the nature of liability, section 25 states that every partner is jointly and severally liable for all the acts of the firm,  done while he is a partner. However a retired partner is not liable for any acts that occurred after his retirement. Thus the liability of a partner towards third party is: (1) joint and several (ii)liability arises for those acts connected with the business of the firm. (iii) liable for acts pertaining to the period while he was a partner.(like liability to pay tax arrears pertaining to the period when one was a member) (iv) liability is unlimited