Ordinarily,the management of a corporation is not liable to third persons if the managerial policies cause loss to such third persons.

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This is known as the principle of limited liability, which means that shareholders, directors, and officers of a corporation cannot be held personally responsible for the debts or obligations of the corporation. However, there are certain situations where the veil of limited liability can be pierced, such as in cases of fraud, piercing the corporate veil, or breach of duty of care.

Ordinarily,the Management of a Corporation Is Not Liable to Third