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Simple English definitions for legal terms

veil-piercing

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A quick definition of veil-piercing:

Veil-piercing is when a court holds people who own or run a company responsible for the company's bad actions. Normally, these people are protected from being personally responsible for what the company does. But if the court thinks they did something wrong, they can be held responsible. This is also called disregarding the corporate entity. It can be hard to predict when this will happen because there isn't a clear rule for it.

A more thorough explanation:

Veil-piercing is a legal term that refers to the act of holding corporate officers, directors, and shareholders personally liable for the wrongful acts of a corporation. This is done by disregarding the legal separation between the corporation and its owners, which is known as the corporate veil.

For example, if a corporation is sued for breach of contract and it is found that the owners of the corporation used it as a personal piggy bank, the court may decide to pierce the corporate veil and hold the owners personally liable for the damages.

Another example would be if a corporation is found to have engaged in fraudulent activities, and it is determined that the owners were aware of and participated in the fraud. In this case, the court may also decide to pierce the corporate veil and hold the owners personally liable for the damages.

Overall, veil-piercing is a legal tool that is used to prevent individuals from using the corporate form to shield themselves from personal liability for wrongful acts committed through the corporation.

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1a2b3c4d26z
11:15
In this analogy is the LSAT the NFL combine
JumpySubsequentDolphin
11:16
I told my family I won’t get any decisions until 2025 so they wouldn’t bombard me hahah
no i think there should be a Law School combine with all new drills except there is still the 40 yard dash
and a sub 4.5 gets you into any t14
LSAT can be one of the drills
letsseehowitgoesnow
11:17
so washu only called one person
So all the D1 athletes will get into a T-14. What else is new?
@TheAdoptedOne: that is called "Dean Poker Night" lol
@ClockworkBlue: I feel like most people could train for the 40 for the same amount of time as they do the LSAT and get close to sub 5 which would be equivalent to a 167+
this is like the schizophrenic posts JJK tik tok be putting out
powerscaling Law School deans up next
11:19
Election Day election day
Write in Dean Z vote
11:20
Saw a guy that wrote in Biden and he said no retirement for you buddy
1a2b3c4d26z
11:20
@ClockworkBlue: god I hope that's true
if the country was run the same as Mich Law it would be a better place
Imagine if election night was run by an adcom? Like, "yep, we could get the results Friday, or June 2025."
imagine if it was like Berkley applications
1a2b3c4d26z
11:22
Election status: Complete
1a2b3c4d26z
11:22
For months
triplethread
11:23
erection day
soapy
11:23
Shoutout to Robinhood's election bet not resolving until January
triplethread
11:23
is anyone else like certain that trump will win
ambitiouslizard
11:23
he aint winning
triplethread
11:23
i like being a pessimist
ambitiouslizard
11:24
he lost his re-election, why would he win this one?
1a2b3c4d26z
11:25
I have no idea why people have so much beef w berkeley's app
I've been reading a bit about "herding," which is this idea that pollsters are making the race look tied so they look right no matter who wins.
1a2b3c4d26z
11:26
Like... it's a more involved app but you don't have to do it? They're clearly trying to have some self-selection go on
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