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Lyman McAnally contracted with Margaritaville Builders, Inc., which was owned by James Buffett, to remodel a house. Buffett estimated that the remodeling would cost around

Lyman McAnally contracted with Margaritaville Builders, Inc., which was owned by James Buffett, to remodel a house. Buffett estimated that the remodeling would cost around $400,000. Eventually, however, McAnally paid Buffett more than $1.2 million. McAnally filed a suit in an Florida state court against Margaritaville, alleging breach of contract and fraud, among other things. During the trial, it was revealed that Margaritaville had issued no shares of stock and that personal and corporate funds had been commingled. The minutes of the corporate meetings all looked exactly the same. In addition, Buffett could not provide an accounting for the McAnally project. In particular, he could not explain evidence of double and triple billing nor demonstrate that the amount McAnally paid had actually been spent on the remodeling project. Are these sufficient grounds to pierce the corporate veil? Explain.

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