After a corporate charter has been forfeited, the owners and officers of the dissolved corporation are __________ shielded from personal liability by using the corporate name when making contracts.

Question

Quizplus · Accepted Answer

When a corporate charter is forfeited, the corporation ceases to exist as a separate legal entity. Therefore, the owners and officers cannot use the corporate name to shield themselves from personal liability in contracts. They are personally responsible for any actions taken after the forfeiture of the charter.

After a Corporate Charter Has Been Forfeited, the Owners and Officers