i Niki owns O.K. Oil Corporation Nikius 10).finstomi r Corporation to engage in

Question

i Niki owns O.K. Oil Corporation Nikius 10).finstomi r Corporation to engage in the same business as o K-transfer. into bankruptcy, This most likely warrants a. a bonus to Niki for financial maneuvers b. a discharge for O.K. in bankruptcy e. a pierce of the corporate veil. d. a review of Pure Fuel's articles of incorporation -orwe sel . demusalk 2. Niohe Stores, Inc,, must hold a shareholders' meeting a, onty when it is called by the board of directors b. monthly c, biannually d. annually Fact Pattern 50-1A Nikita owns land in Ohio. Her ownership rights include the right to sell or give away the property withont restriction, and the right to commit waste, if she chooses 53. Refer to Fact Pattern 50-1A. Nikita's ownership interest is a fee simple absolute. a. b. a life estate. o. a leasehold estate d. an easement Refer to Fact Pattern 50-1A. Nikita conveys some of her land to Roggie with the right to possess and use th property for a certain period of time. Nikita has given Reggie a. an easement. b. a life estate c. a leasehold estate d. a fee simple absolute. 55. Tyro has the right to drive across Ula's land, which is next to Tyro's property, to reach an access road. right is a. an easement appurtenant b. a profit appurtenant c. an easement in gross d. a profit in gross. 56. With respect to Egor's land, Fig has an easement, Gabe has a profit, and luck has a license. A rig possess the land is owned by a. Gabe. b. Fig. c. Huck. d. Egor

Explanation / Answer

c . a pierce of the corporate veil

In this situation it’s piercing the corporate veil because as per the situation the court provides and put it aside with the limited liability and holds all shareholder and directors responsible for all the corporation’s debts and measures required. Normally courts use veil piercing only if there is any form of misconduct such as abuse of the corporate. And, in this case Niki is abusing O.K.’s oil corporation which leads in applying piercing the corporate veil.

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