Mickey has $$50,000$ saved to open up a coffee shop, but that isn't enough to open up his dream coffee shop. Mickey approaches his best friend, Bob and asks him to invest in his business for $$10,000.$ Bob agrees to this deal, but he tells Mickey that he doesn't have any time to help Mickey actually manage the business and only wants to invest in the business so he can earn a share of the shop's profits, so the two form the new business as a limited partnership. One morning, a loud group of college students came in spilled coffee all over the floor of the shop. A customer told Mickey about the coffee spill, but Mickey chose to do nothing about it$.$ Shortly thereafter,. Teddy came in to order a coffee and slipped on the wet floor and broke his collarbone. If the business is responsible for Teddy's injury, to what extent are Mickey and Bob personally liable to Teddy?

Only Mickey will be liable because he is the general partner. His liability is unlimited.

Only Bob will be liable because he is the general partner. His liability is unlimited.

Both Mickey and Bob have unlimited personal liability.

Mickey will face unlimited personal liability, but Bob will only be liable up to the amount of money he invested into the business.

Bob will face unlimited personal liability, but Mickey will only be liable up to the amount of money he invested into the business.