Answer:
1) Likeness: Likeness of members in a social group is the primary basis of their mutuality.
2) Interdependence: It is not possible for human being to satisfy his desire in isolation.
3) Cooperation: If the members of the society do not work together for the common purposes, they cannot lead a happy and comfortable life.
The correct answer would be, Piercing the Corporate Veil.
The court may disregard the corporate structure and impose personal liability on the shareholders treating them like partners. This is called as Piercing the Corporate Veil.
Explanation:
A corporation is a form of business in which there are officers called as the board of directors, who run the business as a separate legal entity.
There are shareholders in the corporation who have their shares or stakes in the company.
When a court finds that the shareholders of a corporation are using corporate structure as a shield from liability when acting purely for personal purposes, then in this situation, the court holds the shareholders and directors, personally liable for their actions and debts. This is called as Piercing the Corporate Veil.
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