In a corporation, personal property of the owners can be taken to pay the debts of the business.

Question

Quizplus · Accepted Answer

In a corporation, the personal property of the owners (shareholders) is not generally at risk to pay the debts of the business. This is because the corporation is considered a separate legal entity from the shareholders. However, there are some exceptions to this in cases of fraud or other illegal activities.

In a Corporation, Personal Property of the Owners Can Be