MEE Practice Questions - Multistate Essay Examination Exam

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A corporation is sued by a creditor seeking to hold its sole shareholder personally liable. The creditor must establish which of the following to pierce the corporate veil?

Only that the corporation is insolvent That the shareholder dominated the corporation and used the corporate form to perpetrate a fraud or injustice That the corporation failed to hold an annual meeting That the shareholder personally guaranteed the debt

Correct Answer:

That the shareholder dominated the corporation and used the corporate form to perpetrate a fraud or injustice

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