A year ago, Chris joined with other investors to open a restaurant, Honest Ozzie's Delicatessen. The deli is now failing, and one supplier is suing for overdue bills. 1. Absent a formal agreement to the contrary, what form of business organization did Chris form with the other investors? What is his liability risk? What are the tax consequences? 2. What form of business organization would have been the best choice for Honest Ozzie's Delicatessen? Why? 3. Based on your answer to 2., what are the management options for this form of business organization?

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