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Question
Carey, the owner of a corporation, uses the business checking account to pay his personal bills. He also makes business deals knowing the business cannot pay the invoices. If he is sued by one of his creditors, which of the following courses of action is most likely to be taken by the court?
A. Pierce the corporate veil.
B. Apply the business judgment rule.
C. Terminate the corporation.
D. Impose the Rochdale Principles.
Answer
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