The personal assets of the partners can be used to pay off firm's debts, if firm's assets are not sufficient, in which of the following feature of partnership is highlighted above?

Unlimited Liability of Partners

The correct answer is Option (3) → Unlimited Liability of Partners.

Liability of Partners: Each partner is liable jointly with all the other partners and also severally to the third party for all the acts of the firm done while he is a partner. Not only that the liability of a partner for acts of the firm is also unlimited. This implies that his private assets can also be used for paying off the firm’s debts.