1. Question: Alan Dershowitz, a law professor famous for his wealthy clients (O. J. Simpson, among...

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1. Question: Alan Dershowitz, a law professor famous for hiswealthy clients (O. J. Simpson, among others), joined with otherlawyers to open a kosher delicatessen, Maven's Court. Dershowitzmet with greater success at the bar than in the kitchen--the delifailed after barely a year in business. One supplier sued foroverdue bills. What form of organization would have been the bestchoice for Maven's Court? Strategy: A sole proprietorship would nothave worked because there was more than one owner. A partnershipwould have been a disaster because of unlimited liability. Theycould have met all the requirements of an S corporation or an LLC.(See the this section.)

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As already mentioned in the strategy the soleproprietorship and Partnership forms would both be not suitable in the above case With reference to owners liability purposes in case of Limited Partnership LP it is managed by one or more general partners in order to control the regular activities of the business however the liabilities of these See Answer

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