Sarah owns half of Smith Realty, Inc., and her brother Bill owns the other half. Sarah routinely uses the company car, which is supposed to be used only for taking clients to view property, not to run her personal errands. She also routinely uses company funds for personal uses, but always pays the money back in to the corporation. When Smith Realty failed to pay its lawyer for work completed on its behalf, the lawyer sued Smith Realty as well as Sarah and Bill personally. In this situation the court likely will: a. not pierce the corporate veil, because there was no commingling of interests. b. not allow Sarah and John to be sued individually, because Smith Realty is a close corporation. c. pierce the corporate veil due to Sarah's comingling of interests. d. dismiss the case, because Smith Realty is a close corporation.
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Sarah owns half of Smith Realty, Inc., and her brother Bill owns the other half. Sarah routinely use...
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