When corporate privilege is abused for personal benefit, courts will require owners to assume ____________________ to creditor's for the corporation's debt.

Fill in the blank(s) with the appropriate word(s).

Ans: personal responsibility

Business

You might also like to view...

Which of the following requires a formal journal entry?

A) selection of a new CEO B) stock dividend distribution C) stock split D) date of record

Business

The relationship of a broker to his or her client is that of a(n)

A) trustee. B) subagent. C) fiduciary. D) attorney in fact.

Business