Final answer:
In general partnerships, new partners would face personal liability for preexisting debts or obligations of the partnership, while in limited liability partnerships (LLPs), new partners would typically not bear personal liability for preexisting debts or obligations.
Step-by-step explanation:
A new partner in a partnership will typically not be personally liable for preexisting debts or obligations of the partnership. However, this can vary depending on the type of partnership.
In a general partnership, all partners are personally liable for the business's debts and obligations. This means that new partners would indeed face personal liability for preexisting debts or obligations of the partnership. For example, if Partner A incurred a debt before the new partner joined, the new partner would be accountable for that debt.
On the other hand, in a limited liability partnership (LLP), the partners have limited personal liability. This means that new partners would not be personally liable for the preexisting debts or obligations of the partnership. Their liability would typically be limited to the extent of their investment in the partnership.