Will amelia be able to pierce the corporate veil

Assignment Help Operation Management
Reference no: EM133344715

Jason is the sole shareholder of a corporation called "Shell Corp." In the two years since Jason incorporated Shell Corp, the business has never held a board of directors meeting, or even appointed a board of directors. As a matter of general practice, whenever Shell Corp receives income, that profit is immediately transferred to Jason's personal checking account. While Jason views these distributions as "dividends," he does not maintain any corporate records showing the amount of "dividend" payments which he receives from his corporation. One day, Amelia (a disgruntled former client of Shell Corp) sues Shell Corp for breach of contract in the amount of $100,000. Shell Corp responds by admitting a breach of contract, but also notes that it has no corporate assets. Not long after, Shell Corp files for bankruptcy. Amelia responds to Shell Corp's purported insolvency by adding Jason as a party to her breach of contract lawsuit. This, notwithstanding the fact that Jason had not entered into the breached contract in his personal capacity. Will Amelia be able to "pierce the corporate veil," and receive a judgment against Jason?

Reference no: EM133344715

Questions Cloud

Why would national chemical corporation be able to succeed : Since a previous big competitor (Dow Chemicals, with its "Liquid Tire Chain" brand) did not think this opportunity was attractive and withdrew
Summarize the needed data for your investigation : What charts would you wish to see, based upon those presented in this chapter, to collect and summarize the needed data for your investigation?
Develop compliance with standards to protect competitors : Uber is so popular and the business model is being expanded to other industries, should there be regulation to develop compliance with standards to protect
List and discuss elements of a management contract : List and discuss 6 elements of a management contract and determine which of them is perhaps most crucial in ensuring cordial tenant owner relationship.
Will amelia be able to pierce the corporate veil : contract in his personal capacity. Will Amelia be able to "pierce the corporate veil," and receive a judgment against Jason?
Have you noticed this trend of h.r. workers dealing : Have you noticed this trend of H.R. workers dealing with COVID responsibilities at your place of work or even at school?
How is native storytelling different in structure : How is Native storytelling different in structure? How is Native storytelling different in themes?
What type of ordering policy would you recommend : What type of ordering policy would you recommend to a bookseller? This book seller (believe it or not - still mortar and bricks establishment)
What effect would the discomforts or risks have : Went consider the likelihood and magnitude of the risks or discomforts occurring. Are they unlikely or likely to occur and what effect would the discomforts

Reviews

Write a Review

Operation Management Questions & Answers

  Book review - the goal

Operations Management is about a book review. Title of the book is "Goal". This book has been written by Dr. Eliyahu Goldartt. The book has been appreciated by many as one of those books which offers an insight into the operations and strategic capac..

  Operational plan in hospitality enterprise

Operational plan pertaining to a hospitality enterprise is given in detail in the solution. The operational plan is an important plan or preparation which gives guidelines regarding the role and responsibilities of each and every operation at all lev..

  Managing operations and information

Recognise the importance of a strategic approach to the development and deployment of organisational information systems. Demonstrate an understanding of the importance of databases and their integration to the organisation's overall information mana..

  A make-or-buy analysis

An analysis of the holding costs, including the appropriate annual holding cost rate.

  Evolution and contributor of operations management

Briefly explain Evolution and contributor of Operations management.

  Functions and responsibilities of an operations manager

A number of drivers of change have transformed the roles, functions and responsibilities of an operations manager over recent years. These drivers have not only been based on technological innovations but also on the need for organisations to develop..

  Compute the optimal order quantity

Compute the Optimal Order quantity of DVD players. Determine the appropriate reorder point.

  Relationship to operations practice in the organisation

Evaluate problems in operations and identify approaches to overcoming them. Critically evaluate operating plans and identify areas for improvement. Justify, implement and evaluate changes to operations in line with modern approaches.

  A make or buy analysis

Develop a report for Figi Fabricating that will address the question of whether the company should continue to purchase the part from the supplier or begin to produce the part itself.

  Prepare a staffing plan

Prepare a staffing plan showing the change of your unit from medical/surgical staffing to oncology staffing.

  Leadership styles in different organizations

Ccompare the effectiveness of different leadership styles in different organizations

  Risk management tools and models

Be able to understand the concept of risk, roles and responsibilities for risk management and risk management tools and models.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd