Legal Question in Credit and Debt Law in New Jersey

Re: common law marriage

One parter is not personally liable for the personal debts of other partners. However, a judgment against a partner can be satisfied from that partner's interest in the partnership. This is one reason why any multi-owner business should always have the charter documents that are appropriate for the type of business. In a parthership, that would be the Partnership Agreement. One function of a well-drafted partnership agreement is to carefully define what a partner is entitled to take out of the business and what happens to the partnership if a partner becomes insolvent. Lacking this agreement, the parthership may be adversely affected by a partner's personal debts even though the other partners are not technically liable for them.

See also: http://info.corbettlaw.net/lawguru.htm