Mark complied with all formation supplies for incorporating

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Mark complied with all formation supplies for incorporating his taxicab business. He is the solitary shareholder in the corporation. The corporation possesses two automobiles that Mark frequently uses for his own personal use. In addition he sometimes credits the money he takes in during the day into his personal checking account. One day a worker of the company while driving one of the company vehicles unintentionally hits a pedestrian in a crosswalk. The pedestrian sues both Mark as well as the taxi company for $100,000. The corporate assets are merely $32,000. Is the corporation liable for the acts of its employee? Will Mark be individually liable under the facts? Explain

Reference no: EM1378802

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