Limited liability protects the partnership from unauthorized partner acts, while the firm remains liable for partners' wrongful acts within business scope. A limited liability partnership is not bound by a partner's unauthorized act when the third party knows the partner lacks authority or does not know the actor is a partner. Conversely, the partnership is liable for wrongful acts or omissions by a partner done in the course of business or with the partnership's authority; all partnership obligations rest solely on the partnership and are to be met from partnership property.