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Question UBE | Piercing the Corporate Veil | MULTIPLE_CHOICE Medium

A corporate president personally lies to a supplier about financing to induce a sale to the corporation. The corporat...

...nt is most accurate? This question tests the distinction between veil piercing and direct tort liability. Model Business Corporation Act and common-law veil-piercing principles, Revised Uniform Limited Liability Company...

Citations: Model Business Corporation Act and common-law veil-piercing principles, Revised Uniform Limited Liability Company Act and common-law alter-ego principles

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Question UBE | Piercing the Corporate Veil | MULTIPLE_CHOICE Easy

A creditor seeks to hold the sole shareholder of a corporation personally liable for a corporate debt. The creditor p...

...describes the alter-ego standard? This question tests the basic veil-piercing standard. Model Business Corporation Act and common-law veil-piercing principles, Revised Uniform Limited Liability Company Act and common-la...

Citations: Model Business Corporation Act and common-law veil-piercing principles, Revised Uniform Limited Liability Company Act and common-law alter-ego principles

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Question UBE | Piercing the Corporate Veil | MULTIPLE_CHOICE Medium

A shareholder signs a supply contract as corporate president and signs a separate one-page personal guaranty of the c...

...estion distinguishes voluntary guaranty liability from equitable veil piercing. Model Business Corporation Act and common-law veil-piercing principles, Revised Uniform Limited Liability Company Act and common-law alter-e...

Citations: Model Business Corporation Act and common-law veil-piercing principles, Revised Uniform Limited Liability Company Act and common-law alter-ego principles

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Question UBE | Piercing the Corporate Veil | MULTIPLE_CHOICE Medium

A creditor seeks alter-ego liability against the sole member of an LLC. The creditor's only evidence is that the LLC...

...atement is most accurate? This question tests LLC formalities in veil-piercing analysis. Model Business Corporation Act and common-law veil-piercing principles, Revised Uniform Limited Liability Company Act and common-la...

Citations: Model Business Corporation Act and common-law veil-piercing principles, Revised Uniform Limited Liability Company Act and common-law alter-ego principles

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Question UBE | Piercing the Corporate Veil | MULTIPLE_CHOICE Medium

A creditor obtains a judgment against a corporation. The creditor later moves to add the sole shareholder as a judgme...

...ndment principles. Model Business Corporation Act and common-law veil-piercing principles, Revised Uniform Limited Liability Company Act and common-law alter-ego principles

Citations: Model Business Corporation Act and common-law veil-piercing principles, Revised Uniform Limited Liability Company Act and common-law alter-ego principles

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Question UBE | Piercing the Corporate Veil | MULTIPLE_CHOICE Medium

A parent owns all shares of a subsidiary, approves the annual budget, and lists the subsidiary product line on one co...

...tatement is most accurate? This question tests parent-subsidiary veil-piercing limits. Model Business Corporation Act and common-law veil-piercing principles, Revised Uniform Limited Liability Company Act and common-law...

Citations: Model Business Corporation Act and common-law veil-piercing principles, Revised Uniform Limited Liability Company Act and common-law alter-ego principles

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Question UBE | Piercing the Corporate Veil | MULTIPLE_CHOICE Medium

A sole shareholder deposits customer payments into personal accounts, pays personal expenses from the corporation acc...

...statement best describes these facts? This question tests common veil-piercing factors. Model Business Corporation Act and common-law veil-piercing principles, Revised Uniform Limited Liability Company Act and common-law...

Citations: Model Business Corporation Act and common-law veil-piercing principles, Revised Uniform Limited Liability Company Act and common-law alter-ego principles

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Question UBE | Piercing the Corporate Veil | MULTIPLE_CHOICE Medium

An LLC member is sued over an unpaid LLC invoice, a crash the member personally caused while performing LLC work, and...

...ty and exceptions. Model Business Corporation Act and common-law veil-piercing principles, Revised Uniform Limited Liability Company Act and common-law alter-ego principles

Citations: Model Business Corporation Act and common-law veil-piercing principles, Revised Uniform Limited Liability Company Act and common-law alter-ego principles

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Question UBE | Piercing the Corporate Veil | ESSAY Hard

Harbor Labs, Inc. loses a breach-of-contract trial to Vendor. During the case, Harbor's sole shareholder, Elise, sele...

...ue process limits. Model Business Corporation Act and common-law veil-piercing principles, Revised Uniform Limited Liability Company Act and common-law alter-ego principles

Citations: Model Business Corporation Act and common-law veil-piercing principles, Revised Uniform Limited Liability Company Act and common-law alter-ego principles

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Question UBE | Piercing the Corporate Veil | ESSAY Medium

Maya is the president and 70 percent shareholder of GreenCart, Inc. GreenCart contracts to buy electric delivery cart...

...es that all claims against her are barred unless Supplier proves veil piercing. Analyze which claims against Maya require veil piercing and which may proceed as direct liability theories. This essay tests the boundary be...

Citations: Model Business Corporation Act and common-law veil-piercing principles, Revised Uniform Limited Liability Company Act and common-law alter-ego principles

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Question UBE | Piercing the Corporate Veil | ESSAY Hard

Rafael forms Coast Build, Inc., a corporation that performs small remodels. He is the sole shareholder, director, and...

...or the supplier's judgment. This essay tests classic shareholder veil piercing with facts on both sides of the alter-ego analysis. Model Business Corporation Act and common-l...

Citations: Model Business Corporation Act and common-law veil-piercing principles, Revised Uniform Limited Liability Company Act and common-law alter-ego principles

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Question UBE | Piercing the Corporate Veil | ESSAY Hard

Sol is the sole member and manager of Bay Drone LLC. The operating agreement does not require annual meetings. Sol ke...

...rone-injury claim, and the equipment lease. This essay tests LLC veil piercing and the distinction between entity debts, personal misconduct, and guaranty liability. Model Business Corporation Act and common-law veil-pie...

Citations: Model Business Corporation Act and common-law veil-piercing principles, Revised Uniform Limited Liability Company Act and common-law alter-ego principles

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Question UBE | Piercing the Corporate Veil | MULTIPLE_CHOICE Medium

A two-shareholder close corporation has informal management practices but maintains separate bank accounts, pays its...

...omatically immune. Model Business Corporation Act and common-law veil-piercing principles, Revised Uniform Limited Liability Company Act and common-law alter-ego principles

Citations: Model Business Corporation Act and common-law veil-piercing principles, Revised Uniform Limited Liability Company Act and common-law alter-ego principles

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Question UBE | Piercing the Corporate Veil | MULTIPLE_CHOICE Medium

A corporation observes ordinary separateness: separate bank accounts, adequate capitalization when formed, records, a...

...ets the mistake of equating unpaid debt with inequity needed for veil piercing. Model Business Corporation Act and common-law veil-piercing principles, Revised Uniform Limited Liability Company Act and common-law alter-e...

Citations: Model Business Corporation Act and common-law veil-piercing principles, Revised Uniform Limited Liability Company Act and common-law alter-ego principles

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Question UBE | Piercing the Corporate Veil | ESSAY Hard

Summit Foods, Inc. owns all shares of Valley Snacks, Inc., a subsidiary that manufactures granola bars. Valley has it...

...alter ego. Analyze whether OatCo can hold Summit liable under a veil-piercing or alter-ego theory. Discuss both the facts that support separateness and the facts that support piercing. This essay tests limits on parent-...

Citations: Model Business Corporation Act and common-law veil-piercing principles, Revised Uniform Limited Liability Company Act and common-law alter-ego principles

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Question UBE | Subject Matter Jurisdiction | MULTIPLE_CHOICE Easy

A corporation incorporated in State A has its headquarters and executive offices in State B. What is the corporation'...

...tate A has its headquarters and executive offices in State B. What is the corporation's citizenship for diversity purposes? The correct answer states the corporate citizenship rule. 28 U.S.C. 1332(c)(1), Hertz Corp. v. F...

Citations: 28 U.S.C. 1332(c)(1), Hertz Corp. v. Friend

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Question UBE | Subject Matter Jurisdiction | MULTIPLE_CHOICE Easy

A corporation incorporated in State A has its headquarters and executive offices in State B. What is the corporation'...

...tate A has its headquarters and executive offices in State B. What is the corporation's citizenship for diversity purposes? The correct answer states the corporate citizenship rule. 28 U.S.C. 1332(c)(1), Hertz Corp. v. F...

Citations: 28 U.S.C. 1332(c)(1), Hertz Corp. v. Friend

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Question UBE | Derivative Actions | MULTIPLE_CHOICE Medium

A derivative plaintiff agrees to dismiss claims for corporate asset diversion if the defendant officer pays the plain...

...e plaintiff agrees to dismiss claims for corporate asset diversion if the defendant officer pays the plaintiff personally and the corporation receives nothing. Which statement is most accurate? This question tests settle...

Citations: Model Business Corporation Act secs. 7.40-7.47, Federal Rule of Civil Procedure 23.1 derivative-pleading principles

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Question UBE | Fifth Amendment Privilege | MULTIPLE_CHOICE Medium

A grand jury subpoenas corporate safety records from a corporation. The corporation refuses, arguing that the records...

A grand jury subpoenas corporate safety records from a corporation. The corporation refuses, arguing that the records may incriminate the company and its officers. What is the best answer? This MCQ tests corporate/entity...

Citations: Hale v. Henkel, Braswell v. United States

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Question UBE | Derivative Actions | MULTIPLE_CHOICE Easy

A shareholder alleges that directors caused the corporation to sell corporate real estate for half its value to an en...

A shareholder alleges that directors caused the corporation to sell corporate real estate for half its value to an entity owned by one director, reducing the value of all shares. How should the claim usually be classifie...

Citations: Model Business Corporation Act secs. 7.40-7.47, Federal Rule of Civil Procedure 23.1 derivative-pleading principles

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Question UBE | Derivative Actions | MULTIPLE_CHOICE Easy

A shareholder files a derivative complaint alleging that directors wasted corporate assets. The complaint does not de...

...derivative complaint alleging that directors wasted corporate assets. The complaint does not describe any board demand, and states only, "Demand would be useless because directors never sue themselves." Which statement i...

Citations: Model Business Corporation Act secs. 7.40-7.47, Federal Rule of Civil Procedure 23.1 derivative-pleading principles

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Question UBE | Judicial Notice | ESSAY Hard

During summary-judgment briefing, Employer asks the court to take judicial notice of the official state corporate-rec...

During summary-judgment briefing, Employer asks the court to take judicial notice of the official state corporate-record page showing that Employer was incorporated in Delaware on a particular date. Employer attaches a c...

Citations: Federal Rule of Evidence 201(c), Federal Rule of Evidence 201(d), Federal Rule of Evidence 201(e)

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Question UBE | Erie Doctrine | MULTIPLE_CHOICE Medium

In a diversity case, state law says service on a corporate defendant must be made by the sheriff. Federal Rule 4 allo...

...case, state law says service on a corporate defendant must be made by the sheriff. Federal Rule 4 allows service on the corporation's registered agent by any adult nonparty. The plaintiff used the Rule 4 method, and the...

Citations: Hanna v. Plumer, Rules Enabling Act, 28 U.S.C. section 2072

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Question UBE | Best Evidence | ESSAY Hard

In a robbery trial, the prosecution offers a digital copy of a surveillance video exported from a store's camera syst...

In a robbery trial, the prosecution offers a digital copy of a surveillance video exported from a store's camera system. A store technician testifies that the export accurately reproduces the stored video. The prosecutio...

Citations: Federal Rule of Evidence 1001, Federal Rule of Evidence 1002, Federal Rule of Evidence 1003, Federal Rule of Evidence 1006

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