Essay
Kim is the sole shareholder,director,and officer of Kim Consulting Inc.She is concerned that,because she is really the only person involved in the corporation,any creditor who wants to will be able to get a court to order that she be personally liable for the obligations of the corporation's business.Is Kim's concern a reasonable one? Explain why or why not.
Correct Answer:

Verified
In most commercial circumstances,this is...View Answer
Unlock this answer now
Get Access to more Verified Answers free of charge
Correct Answer:
Verified
View Answer
Unlock this answer now
Get Access to more Verified Answers free of charge
Q18: Yasir and Rahool are partners in an
Q57: Sam and Jemma each owned a 50
Q58: Jessica had operated a business for several
Q59: Rupert is starting up a new high-tech
Q61: Directors of a corporation should issue shares
Q63: Stephen set up a film production company
Q64: Luke and Aldith are thinking about setting
Q65: Peter,Kathy,and Soren are partners in a hardware
Q66: Eileen is considering incorporating a corporation under
Q67: Doren carried on a toy store business