Business, 04.02.2020 05:52 Esme1995

Assume the football team is set up as a c corporation and that lenny, sarah, and sam are the shareholders. after setting up the corporation, no formalities of the corporation were kept. lenny, sarah and sam all pay most of their personal bills out of corporate bank accounts. the team is sued for negligence because an individual who turned to see the quarterback running naked crashed her car, but the team does not have sufficient funds or insurance to cover the judgment. which of the following is true?
a. lenny, sarah and sam may be personally liable because the plaintiff may be able to pierce the corporate veil.
b. lenny, sarah and sam may be personally liable because of the corporation by estoppels doctrine.
c. lenny, sarah and sam may be personally liable because of the ultra vires doctrine.
d. lenny, sarah and sam can never be personally liable because the team is set up as a corporation.

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Assume the football team is set up as a c corporation and that lenny, sarah, and sam are the shareho...

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