Sisters Shireen and lolo form an LLC to sell handmade earrings. The LLC does not have a separate bank account and the sisters deposit profit into their personal bank accounts. They do not hold meetings. They do not keep up with their paperwork. When they are sued by Budding Beads, Inc. for breach of contract the Sisters claim they are not personally liable because the debt belongs to the LLC. Which of the following is the most likely outcome? Select one a They are correct, the LLC incurred the debt not the sisters. O. They are correct because the LLC is not a separate legal entity. They are incorrect because nether sister has enough money to pay the debt d. They are incorrect because the court is likely to Pierce the Corporate Veil since they did not follow any formalities. Jolson's neighbor's hobby is to make drone airplanes. Jolson buys one of the airplanes but after its first flight it uncontrollably flies into Jolson's eyes and blinds him. If Jolson sues his neighbor under a theory of strict product lability, Select one Oa He is likely to win if his neighbor has sufficient home owner's insurance He is likely to lose because it's his own fault that he didn't know how to properly and the drone He is likely to win because the neighbor obviously manufactured a defective product d. He is likely to lose because the neighbor is not normally engaged in the business of selling drones Squigword owns 68% of outstanding shares of Waterworld, Inc. The remaining shares are owned by Bob and Patrick. At the annual meeting of shareholders Select one: . Squigword's vote has more weight because he owns more of the corporation b. All three shareholders' votes have equal weight, just like a partnership Bob's and Patrick's votes have more weight because they are 2 against 1 O d. The shareholders typically draw straws to see who wins