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Under what theory might the court in this case make an exception to the limited liability of shareholders and hold Sharp personally liable for the
Under what theory might the court in this case make an exception to the limited liability of shareholders and hold Sharp personally liable for the damages? What factors would be relevant to the court's decision?
Suppose that Chickasaw's articles of incorporation failed to describe the corporation's purpose or management structure, as required by state law. Would the court be likely to rule that Sharp is personally liable to Dancause on that basis? Why or why not?
Suppose that the club extended credit to its regular patrons, although neither the articles of incorporation nor the corporate bylaws authorized this practice. Would the corporation likely have the power to engage in this activity? Explain.
How would the court classify the Chickasaw Club corporation domestic or foreign, public or private? Why?
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