Title insurance protects a buyer against:
a. all claims from any source
b. all claims except those excluded by the policy
c. claims arising from the buyer's future actions
d. any claims the buyer already knows about
Answer: b. all claims except those excluded by the policy
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Which of the following is not a factor that may lead to "piercing the corporate veil" and imposing liability on corporate owners (shareholders)?
A) grossly inadequate capitalization of the corporation B) formation of the corporation to avoid personal liability for business obligations C) formation of the corporation to perpetuate a fraud or conceal illegality D) shareholder diversion of corporate funds or assets