Scott Snapp contracted with Castlebrook Builders, Inc., which was owned by Stephen Kappeler, to remodel a house.
Question:
Scott Snapp contracted with Castlebrook Builders, Inc., which was owned by Stephen Kappeler, to remodel a house. Kappeler estimated the cost at $500,000. Eventually, however, Snapp paid Kappeler more than $1.3 million. Snapp sought to be reimbursed, but Kappeler could not provide an accounting for the project.
Specifically, he could not explain double and triple charges, nor whether the amount that Snapp paid had actually been spent on the house. Meanwhile, Kappeler had commingled personal and corporate funds. As for Castlebrook, it had issued no shares of stock, and the minutes of the corporate meetings “all looked exactly the same.” Are these sufficient grounds to pierce the corporate veil? Explain.
Step by Step Answer:
Business Law Text And Exercises
ISBN: 9780357717417
10th Edition
Authors: Roger LeRoy Miller, William E. Hollowell