Gladstonian Corporation has not been following the statutory mandates regarding corporate business in the state they are incorporated. If Gladstonian is sued, a court could ________ to determine liability.

Question

Quizplus · Accepted Answer

Piercing the corporate veil is a legal decision to treat the rights or duties of a corporation as the rights or liabilities of its shareholders or directors. It is typically done when the corporation is found to have neglected corporate formalities, commingled assets, or acted in a way that does not respect the separate legal entity of the corporation, which seems to be the case with Gladstonian Corporation.

Gladstonian Corporation Has Not Been Following the Statutory Mandates Regarding