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Question
Ralph formed a corporation as a fund manager. He accepted money from his customers, promising to invest it and build cash value for them. Instead, he kept the money for himself to enjoy a lavish lifestyle. The court removed liability protection from his corporate entity because the incorporation had been used to perpetuate fraud. This is an example of:
a. piercing the corporate veil. b. unlimited liability.
c. reciprocation. d. a preemptive right.
Answer
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