1. What is piercing the corporate veil?
This is a situation whereby an individual from a corporation is held liable for the debts of the corporation by the court. It overlooks the principle that holds the corporation solely liable according to contract or tort (Miller & Cross, 2013).
2. What are the factors that a court considers to pierce the corporate veil?
– Whether the owner came up with the corporation with the objective of his own personal gains.
– When a corporation transfers its assets to another corporation to avoid liability.
– When the owner transfers his property to