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Wednesday, March 16, 2011

PIERCING THE VEIL

A somewhat related phrase is "piercing the veil," a legal term. The definition, courtesy of nolo.com:

: A judicial doctrine that allows a plaintiff to hold otherwise immune corporate officers and directors personally liable for damages caused by a corporation under their control. The veil is pierced when officers have acted intentionally and illegally, or when their actions exceeded the power given them by the company's articles of incorporation.


--
Antonio L. Buensuceso Jr.

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