B is corrent. The law of joint ventures is very similar to partnership law with some exceptions. For example, the death of one joint venturer does not automatically dissolve the venture. However, most of the law is like that involving partnerships, such as the fiduciary duties and unlimited liability for debts.
A is incorrect because these traditional business forms provide for limited liability where the joint venture does not.
C is incorrect because limited liability companies provide for limited liability under the laws of most states.
D is incorrect because these traditional business forms provide for limited liability where the joint venture does not.
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