Quincy forms a manufacturing corporation, the Fabri-Q Co. (Fabri-Q). He is the sole shareholder. He does not keep records of any dividends and very little records of the corporation’s accounts. Ten months after the formation and incorporation of Fabri-Q, one of Fabri-Q’s products injures a user and Fabri-Q is sued. Which of the following ordinarily is a reason for a court to hold Quincy personally liable?- If Quincy is not held liable, creditors would not be fully compensated.- Fabri-Q’s headquarters was at the same address as another business that Quincy.- The corporation did not elect any directors.- Quincy decides to use some of the profits from Fabri-Q - paid to him as a dividend - to pay his personal debts.- Quincy served as the CEO and CTO (Chief Technology Officer) of Fabri-Q.

In a legal context, personal liability refers to an individual's legal duty and obligation to face…

Answered: Quincy forms a manufacturing…

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