Siebrecht organized Siebrecht Realty Co., a corporation, and then transferred his building to the corporation in exchange

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Siebrecht organized Siebrecht Realty Co., a corporation, and then transferred his building to the corporation in exchange for its stock. The corporation rented different parts of the building to different tenants. Elenkrieg, an employee of one of the tenants, fell and was injured because of the defective condition of a stairway. She sued Siebrecht individually on the ground that the corporation had been formed by him for the purpose of securing limited liability. Decide. [Elenkrieg v. Siebrecht, 144 N.E. 519 (N.Y.)]

Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...
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Andersons Business Law and the Legal Environment

ISBN: 978-1133587583

22nd edition

Authors: David P. Twomey, Marianne M. Jennings

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