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Under What Circumstances Can a Shareholder Have Liability for Corporate

question 22

Essay

Under what circumstances can a shareholder have liability for corporate debts?


Definitions:

Cohabitation

The condition of cohabiting and engaging in a sexual relationship without the bond of marriage.

Cohabitants

People in a romantic partnership cohabiting without formal marriage.

Divorced

The state of being legally separated from one’s spouse, following the dissolution of a marriage.

Cohabiting Couples

Couples living together in a long-term relationship without being married.

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