The Nature of a Corporation and Its Formation - The Nature of a Corporation
3 important questions on The Nature of a Corporation and Its Formation - The Nature of a Corporation
Has rights and duties under the law, distinct from it's owner or creator, but functions through human agents
Legal person
Lifting the corporate veil
Impose liability on those that control the corporation
Conditions to find an individual within a corporation liable
1. Individual must control the corporation
2. That control must have been exercised to commit fraud, a wrong or breach of duty
3. Misconduct must be the cause of the plaintiffs injury
2. That control must have been exercised to commit fraud, a wrong or breach of duty
3. Misconduct must be the cause of the plaintiffs injury
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