A general partnership is not incorporated--it is just a simple entity between two or more parties, and you have full exposure (i.e. full liability). That means that each of you (and your respective assets) are exposed to contracts, leases, personal injuries and other potential liabilities. If you and your partner in a general partnership enter into a lease, then each of you is individually liabile for rent payments, damages, etc. in full. You can then try to sue the other partner for...