1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
dybincka [34]
3 years ago
14

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.
Business
2 answers:
anzhelika [568]3 years ago
7 0

Answer:

(c) pierce the corporate veil due to Sarah's commingling of interests

Explanation:

Commingling of interests usually occurs when an investment manager or realtor combines client money with their own or their firm's, in violation of a contract. This can occur in legal cases, corporate client accounts and real estate transactions. For example in this case Sarah has violated her rights as a realtor by routinely using their company funds for her own personal uses.

a_sh-v [17]3 years ago
4 0

Answer:

C) pierce the corporate veil due to Sarah's commingling of interests.

Explanation:

Smith Realty Inc. is a closed corporation since its only shareholders are Sarah and Bill. The corporate veil is a legal principle that separates the actions of the corporation from the actions of its owners, both Sarah and Bill. Piercing the corporate veil means that the limited liability protection that Sarah and Bill had as stockholders will be eliminated. That means that the corporation and the stockholders will be treated as one same entity, something similar to a partnership.

A court might decide to pierce the corporate veil in Sarah's case, it will be very difficult to to sue Bill for Sarah's wrongdoings. The lawyer can claim that Sarah commingled her own interests with the interests of the corporation because she used the corporation's assets for her own personal use, therefore she can be considered a single entity with it. In this case, commingling means to mix the shareholder's interest with the corporation's interests.  

You might be interested in
How did the economic policies of the republican controlled congress redefine the character of the federal government?
leva [86]
Economic policies of the Republican controlled congress redefined the character of the federal government by changing <span> the way it was viewed as by implementing Clay's program and creating an integrated national banking system that won support by farmers, workers and entrepreneurs that bolstered the Union's ability to fight a long war. Hope this answer helps.</span>
7 0
3 years ago
What are some specific emotional reasons people may reject the gospel message
natima [27]

Some people might reject the gospel message because they have a different opinion on the matter, they have a different religion, or they simply don't understand. People tend to reject things they don't understand.

6 0
3 years ago
​Joe's starting salary as a mechanical engineer is around ​$100 comma 000. Joe is planning to place a total of 13​% of his salar
Maru [420]

Answer:

$ 2,209,797.96

Explanation:

Given:

Salary = $100,000

Salary investment rate = 13%

Salary increase rate(g) = 5%

number of year = 25

Annual rate of return(i) = 11%

Calculation:

Salary invested = $100,000*13% = $13,000

calculation of present worth

P=A[\frac{1-(1+g)^n(1+i)^{-n}}{i-g}] \\P=13000[\frac{1-(1+0.05)^{25}(1+0.11)^{-25}}{0.11-0.05}] \\P=13000[\frac{1-(1.05)^{25}(1.11)^{-25}}{0.06}] \\P=13000[\frac{1-(3.386354)(0.073608086)}{0.06}]\\\\P=13000[\frac{1-0.249263}{0.06}]\\\\ P=13000[12.5122827]\\\\\\P= 162,659.675

Future worth = P(1+i)^n\\                       = 162,659.675(1+0.11)^{25}\\                       = 2,209,797.96

3 0
3 years ago
Why do we have to pay for brainly? brainly should be a completely free to help children in need with work they dont understand a
Vitek1552 [10]

Answer:

You have to pay??? I don't‍♀️

6 0
3 years ago
Read 2 more answers
What is the primary goal of the As-Is process model? Group of answer choices
sineoko [7]
The answer to the question is C
6 0
3 years ago
Other questions:
  • Hewitt Company expects cash sales for July of​ $11,000, and a​ 19% monthly increase during August and September. Credit sales of
    10·1 answer
  • You could give any number of people__________ per year without having to pay any gift taxes,
    13·1 answer
  • If a store adds 50 chairs to its current inventory, the total number of chairs will be the same as three-halves the current inve
    6·1 answer
  • Both the seller’s and buyer’s opening escrow packages have some of the same documents. Which document in the opening package is
    7·1 answer
  • OceanGate sells external hard drives for $260 each. Its total fixed costs are $30 million, and its variable costs per unit are $
    5·1 answer
  • g A constraint to complicated macroeconomic models has been: Group of answer choices that firms do not maximize profits. that ag
    14·1 answer
  • In the market for beef, the price of a pound of beef falls Explain the effect of this event on the quantity of beef supplied and
    7·1 answer
  • Stitch Fix is an online personal styling service that was founded in 2011. This company combines computer algorithms with human
    11·1 answer
  • If the federal reserve overstimulates the economy by increasing money growth too much, then inflation will?
    8·1 answer
  • in 2022 medrano manufacturing reported 3.9 billion in cash flows from operating actiivites but on ly 2.7 billion in net income w
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!