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Jones and Ray formed a partnership on January 1 , known as JR Construction Co . , to engage in the construction business, each partner
Jones and Ray formed a partnership on January known as JR Construction Co to engage in the
construction business, each partner owning a onehalf interest. On February while conducting partnership business, Jones negligently injured Ware, who brought an action against Jones, Ray, and JR Construction Co and obtained judgment for $ against them on March On April Muir joined the partnership by contributing $ cash, and by agreement, each partner was entitled to a onethird interest. In July, the partners agreed to purchase new construction equip ment for the partnership, and Muir was authorized to obtain a loan from XYZ Bank in the partnership name for $ to finance the purchase. On July Muir signed a $ note on behalf of the partnership, and the equipment was purchased. In November, the part nership was in financial difficulty, its total assets amounting to $ The note was in default, with a balance of $ owing to XYZ Bank. Muir has sub stantial resources, while Jones and Ray each individually have assets of $
What is the extent of Muirs personal liability and the personal liability of Jones and Ray as to a the judgment obtained by Ware and b the debt owing to XYZ Bank?
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