solution

The owners of a limited partnership are legally known as: 1. accreditors 2. general and limited partners 3. members 4. sole proprietors

1. A defective corporate entity that has conducted busines with a third party canescape liability by denying its existenceas a corporation under the theory of corporation by estoppel.

   True

   False

2. Ryan created and owns Solar Fuel Corporation. Ryan uses Solar Fuel’s investments and profits to pay personal expenses which results in significant company debt. Ryan creates Thermal Power Co. to engage in the same business as Solar Fuel, and transfers Solar Fuel’s assests to Thermal Power. He does this without a shareholder vote. He next petitions the Court to allow Solar Fuel to move into bankruptcy due to it’s insolvent nature. This most likely warrants which of the following (one answer)?

   	1.	piercing of the corporate veil
   	2.	a shareholder bonus for financial maneurvers to establish another company and to avoid debts.
   	3.	a discharge for Solar Fuel in bankruptcy
   	4.	a review of Thermal Powers’ articles of incorporation