Lucy, Max and Mark are partners in a contracting business (a partnership) which cannot pay its debts. Lucy owns 50%, Max owns 25% and Mark owns 25%. Under Joint and Several Liability creditors can sue:

Group of answer choices

All partners collectively for 1/3 of the debt each.

Each partner individually based on their pro-rata share of ownership.

Partner Mark for 100% of the debt.

A creditor can collect in any of the ways described above.