Business, 19.08.2019 20:30 edeliz3886

Assume the football team is set up as a c corporation and that lenny, sarah, and sam are the shareholders. after setting up the corporation, no formalities of the corporation were kept. lenny, sarah and sam all pay most of their personal bills out of corporate bank accounts. the team is sued for negligence because an individual who turned to see the quarterback running naked crashed her car, but the team does not have sufficient funds or insurance to cover the judgment. which of the following is true?
a. lenny, sarah and sam may be personally liable because of the corporation by estoppels doctrine.
b. lenny, sarah and sam may be personally liable because of the ultra vires doctrine.
c. lenny, sarah and sam can never be personally liable because the team is set up as a corporation.
d. lenny, sarah and sam may be personally liable because the plaintiff may be able to pierce the corporate veil.

Answers: 2

Show answers

Another question on Business

Business, 22.06.2019 01:40

At the local level, the main role of ctsos is to encourage students to become urge them to programs and competitive events. 1. a.interns b.trainees c.members 2. a.participate b.train c.win

Answers: 2

Answer

Business, 22.06.2019 11:00

When partners own different portions of the business, the terms should be stated clearly in what document? the articles of incorporation the executive summary the business summary the partnership agreement

Answers: 3

Answer

Business, 22.06.2019 11:40

If kroger had whole foods’ number of days’ sales in inventory, how much additional cash flow would have been generated from the smaller inventory relative to its actual average inventory position? round interim calculations to one decimal place and your final answer to the nearest million.

Answers: 2

Answer

Business, 22.06.2019 11:40

The following pertains to smoke, inc.’s investment in debt securities: on december 31, year 3, smoke reclassified a security acquired during the year for $70,000. it had a $50,000 fair value when it was reclassified from trading to available-for-sale. an available-for-sale security costing $75,000, written down to $30,000 in year 2 because of an other-than-temporary impairment of fair value, had a $60,000 fair value on december 31, year 3. what is the net effect of the above items on smoke’s net income for the year ended december 31, year 3?

Answers: 3

Answer

You know the right answer?

Assume the football team is set up as a c corporation and that lenny, sarah, and sam are the shareho...

Questions