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Julio is a general partner and Farrah is a limited partner in a limited partnership. Julio and Farrah are the only partners and each invested

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Julio is a general partner and Farrah is a limited partner in a limited partnership. Julio and Farrah are the only partners and each invested $50,000 in the partnership. This $100,000 represents the total assets in the partnership. There is a substantial lawsuit against the partnership and the plaintiff is awarded a judgment for $200,000. The plaintiff collects the $100,000 of partnership assets and is attempting to collect the remaining $100,000. Which of the following is a correct statement of the additional liablities that are still owed by julio and Farrah? Julio will have a joint and several liabiity of $100,000 and Farrah will have a joint and several liabsility of $100,000. Julio will have a fiablity of $100,000 and Farrah will have a llabifity of $0. Juifo will have a liablily of $0 and Farrah will have a liabity of $0. Jullo will have a liability of $50,000 and Farrah will have a liablity of $50,000

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