Generally, the ___ shields shareholders, directors, and officers of a corporation from personal liability in case the corporation runs up large debts.

Respuesta :

The corporate veil protects stockholders, directors, and officers from personal liability in the event that a corporation incurs significant debts.

What exactly are corporate veil shields?

The concept of the "corporate shield" or "corporate veil" holds that a corporation's shareholders, officers, and executives cannot be held personally responsible for the decisions made by the corporation.

What does the term "liability shield" mean?

Protection against liability to defend, hold harmless, and exculpate the employee in the occasion that any claim, court action, etc., is brought against the driver while the driver is serving as an employee of the District, provided the employee is acting in the course and scope of their employment.

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