59 swered ut of To pierce the corporate veil means to ignore the corporate struc

Question

59 swered ut of To pierce the corporate veil means to ignore the corporate structure, exposing the shareholders to personal liability. Select one: o True question False Venture Capital, LP, is a limited partnership. Its limited partners include more limited partner loses his or her limited liability if he or she Select one: answered than 150 sophisticated investors and investment professionals. A Venture d out of a. acts as the firms manager or participates in its operation. b. invests in Unified Fund, one of Ventures competitors. c. votes on the firms sale or dissolution. d. does not participate in the firms management. estion 61 Mountaintop Clearview Corporation authorizes Niles, its employee, to t yet answered rked out of 0 Flog question oversee its timber operation. In the course of his employment, Niles disposes of the operations waste illegally. Orson is a Mountaintop shareholder. Liability for this crime most likely rests Select one: a. Orson's only liability is in his investment in the firm by purchasing stock b, the full extent. c. with Orson as to the proportionate number of shares Orson owns. d, with Orson as a shareholder

Explanation / Answer

1) To pierce the corporate veil means to ignore that the corporate structure, exposing the shareholders to personal liability

Solution: TRUE
Explanation: Corporate veil need to ignore exposing the shareholders to personal liability

2) Venture capital, LP, is a limited partnership. Its limited partners include more than 150 sophisticated investors and investor professionals. A venture limited partner loses his or her limited liability if he or she
Solution: acts as a firm's manager or participates in its operation
Explanation: venture limited partner loses his or her limited liability if he or she makes any participation in any role

3) Mountaintop Clearview Corporation authorizes Niles, its employees to oversee its timber operation. In the course of his employment, Niles disposes of the operation's waste illegally. Orson is a Mountaintop shareholder. Liability for this crime most likely rests
Solution: Orson's only liability is his investment in the firm by purchasing stock
Explanation: Liability for Niles's act with Orson is limited to the amount of Orson's investment in the firm by purchasing stock

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