All flashcards
7 cards
1Is a corporate entity solely liable for the actions or debts of the corporation?
2May creditors reach the personal assets of corporate officers, directors, and shareholders who have committed wrongful acts?
3If a corporate veil is pierced, can a corporation’s officers, directors, and shareholders be held individually liable for a corporation’s actions o...
4What is the alter-ego theory?
5In deciding whether to pierce the corporate veil, is there a test courts use to determine whether a corporation and a shareholder are functioning a...
6Are courts generally willing to pierce the corporate veil?
7A man filed the necessary paperwork to incorporate his business. The man was the corporation’s sole shareholder and ran the company as the sole off...