Jasmine is the sole shareholder of FashionPlusYou Inc., which is planning to borrow $100,000 from the bank to finance a second store location. Jasmine has not given any personal guarantees on the loan. What is Jasmine's legal position should FashionPlusYou Inc. default on the loan?

a.Her liability will depend on whether Jasmine used the proceeds as originally intended.

b.She and the corporation are jointly and severally liable for the debt.

c.She can be personally sued by the bank but only if FashionPlusYou Inc. defaults on the loan.

d.She and the corporation are jointly, but not severally,liable for the debt.

e.Unless the rare factors that would lead to the court being willing to pierce the corporate veil are present, she has no personal liability with respect to the debt.