1.A court is most likely to pierce the corporate veil and hold its shareholders personally liable if

a. a sole proprietor incorporates his or her business solely to limit his or her personal liability

b. a corporation has elected under chapter s of the irc not to pay any corporate tax on its income

c. the shareholders have commingled their personal funds with those of the corporation

d. the shareholders are also corporate officers, directors or employees.

e. two of the above are correct.

2.Mark asked his son bob, age 17, to take his truck and to sell wheat grown by Mark at the Farmers's Market in town if Bob stops at a gas station on his way to town to sell the wheat and buys gas for Mark's truck by charging the purchase on his father's account, will Bob's purchase be binding on his father?

a. No, because bob's agency relationship with Mark was not supported by consideration.

b. no, because bob was a minor

c. yes, because bob has express authority.

d. yes, because bob had implied authority.

e. none of the above.