The Legal Environment of Business: Text and Cases (MindTap Course List)
The Legal Environment of Business: Text and Cases (MindTap Course List)
10th Edition
ISBN: 9781305967304
Author: Frank B. Cross, Roger LeRoy Miller
Publisher: Cengage Learning
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Chapter 18, Problem 5BCP
Summary Introduction

Case summary: Person SS filed a lawsuit against the firm CB for breach of contract. During the trial of the case it came to the light that there was no proper accounting of SS’ project and there were discrepancies in the internal management of CB.

To find: The sufficiency of facts for piercing the corporate veil in the given case.

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Subject : Accounting
Giordana borrows $225,000 for Hearthstone Credit Union to buy a home, which secures the loan. Five years into the term, Giordana stops making payments.  Hearthstone forecloses and sells the property, but the proceeds are not enough to cover the unpaid amount of the loan.  Hearthstone could now obtain a.a short sale b.a redemption c.a deficiency judgment d.a guaranty  e.nothing more
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