Lauren and Peter are brother and sister. They have recently inherited a large sum of money and

have

decided that they want to use that money to start a restaurant business together. Peter

has some experience working as a manager at a fast

-

food restaurant and Lauren has a degree

from Ryerson in business management. They believe that together they can make

this

restaurant a big success. Lauren is married with kids and owns a house. Peter, on the other

hand, is a single guy with no assets and lots of debt.

Lauren is very concerned about losing her house if the restaurant "goes under". She does not

want to

enter into this business, unless she can

be sure

that she

won't

lose her house if the

business fails. Peter, on the other hand, has no

assets

to lose,

other than the inheritance.

However, Peter

is worried that his older sister, who is somewhat bossy, will

take over the

management of the restaurant.

He wants to make sure

that he is involved in the management of

the business.

.

What business organization(s) would be appropriate for Peter and Lauren's restaurant

business? Explain

and support

your answer by (a

) briefly describing the legal

characteristics of each

available

business organization; and (b) discussing why each

bus. org. would or would not be appropriate for Lauren and Peter

, in the circumstances