Piercing the Corporate Veil

Question 1

Factors for piercing corporate veil

Answer 1

alter ego, inadequate capitalization, and failure to comply with corporate formalities

Question 2

alter ego

Answer 2

Complete control, corp used for improper purpose (commingling), and injury resulted from such control

Question 3

inadequate capitalization

Answer 3

capital insufficient for corp’s needs and meeting debts

Question 4

failure to comply with corporate formalities

Answer 4

If defect of incorporation, those attempting to act as a corp may be personally liable