Question

question 2 (10 points)
piercing the corporate veil means that courts will hold shareholders personally liable for debts/acts of the corporations in the interests of justice and fairness.
true
false

Explanation:

Piercing the corporate veil is a legal concept. In normal circumstances, shareholders have limited liability. But when there is a need for justice and fairness (such as fraud, under - capitalization, or using the corporation as an alter - ego), courts can disregard the corporate entity and hold shareholders personally liable for the corporation's debts or acts.

Answer:

True