The correct answer is: D. all the other partners
A guarantee is a promise to pay someone else’s debt if they don’t pay it themselves. In a partnership, if one partner gives a guarantee for the debts of the partnership, the other partners are all liable for the debt if the first partner doesn’t pay it. This is because all partners are jointly and severally liable for the debts of the partnership. This means that each partner is personally liable for the entire debt, even if they only contributed a small amount to the partnership.
Option A is incorrect because the partner giving the guarantee is not the only one who is liable for the debt. All the other partners are also liable.
Option B is incorrect because the partner with the highest ratio is not the only one who is liable for the debt. All the other partners are also liable.
Option C is incorrect because the partnership firm is not the only one who is liable for the debt. All the other partners are also liable.