(14) Peter Parker begins a business of swing through the city to deliver food. In the past when he swung through the city, he hit a few pedestrian (people walking) and injured them. He knows that he is likely to hit people again, so to avoid personal liability, he forms a S Corporation called "Swing and Eat, Inc." Swing and Eats, Inc. has its own bank accounts, holds annual meetings, keeps records, and adopts bylaws. In one of Peter's food delivery working for his own company, he swings through the city and hits the Black Widow injuring her. Black Widow sues Swing and Eat, Inc., but finds that there are not enough assets (money) to pay for her medical bill. So, Black Widow sues Peter Parker. What is the likely outcome? (a) She wins. Black Widow is likely to be able to pierce the corporate veil because Swing and Eats, Inc. was only formed to avoid personal liability. (b) She wins. Black Widow is likely to take advantage of the business judgment rule finding that forming a company to avoid personal liability is unlawful. (c) She loses. Peter is allowed to form a corporation to avoid personal liability and there is nothing to suggest she can pierce the corporate veil. (d) She loses. Peter Parker has superpowers and she is likely to lose in a physical fight between them. (15) Thanos is defeated. The Avengers team decides to disband and the members throw away and abandon their equipment including the Iron Man's suit, Thor's hammer, Hawkeye's bow and arrow, Captain America's shield, etc. Peter Parker (also known as Spiderman) needs money to attend FI so he collects all these items to sell them. Without doing anything else, Peter sells them online on eBay (online auction website). What type of entity is formed? (a) Sole Proprietorship (b) Partnership (c) Limited Liability Company (d) Corporation