Assume you are a lawyer and your clients Liz and Jules come to you asking for your legal advice becausetheywant to start a financial investmentbusiness but are unsure what business form they should open.Liz tells you that her biggest concern about going into business with Jules is that Jules was sued in the past by her previous clients for mismanagingtheir finances at the last place she worked.Despite those concerns,LizbelievesJules won't do that again and has agreed to go into businesswith Jules.

Answer the following questions:

Whattwobusiness forms would you advise Liz and Jules to open and why?Out of the two, which one do you think would be best and why?Make sure your legal advice includes considerations of liability exposure, fiduciary duties, and case law support.