My Premier Legal
Welcome to My Premier Legal!
Insurance Articles
•
•
•
•

Home
:: About Us
:: Contact Us
:: Article
:: Reports
:: Links
:: Site Map

Related Links

Fleet Courier Insurance

Goods In Transit Insurance

Hgv Courier Insurance

Courier Insurance

Car Gap Insurance
Pierce the Corporate Veil
By Tyler Weaver


The corporate structure of your business will provide shelter for your personal assets. There are several events that will cause a judge to disregard the corporate entity or "pierce the corporate veil." There are several reasons why the corporate veil may be pierced. There are also several easy steps you can do to avoid the corporate veil from being pierced.

The corporate veil can be pierced if a party is tricked or misled into dealing with the corporation rather than an individual. Whenever the corporation does correspondence with a third party, the officers and directors of that company need to make it clear that they are acting on behalf of the corporation and not themselves individually. All the documents need to clearly be entered into on behalf of the corporation otherwise there may be a conflict that could arise that would pierce the corporate veil.

If the corporation is set up to never make a profit or always be insolvent it is considered too "thinly" capitalized. This could be when the corporation is formed without sufficient capital to meet potential liabilities and debts. This often occurs when an individual or group of people uses a corporation as a form of shield from liabilities instead of a legitimate business.

When the corporation fails to follow corporate formalities where the corporation is located, it can be pierced. A few of the corporate formalities are meetings, minutes, stock ledger. If the corporate entity fails to do some of these duties the judge can rule that it is not a proper corporation.

The biggest mistake small corporations usually make is not keeping separate accounts for the corporation. If an individual moves funds from their bank account into the corporate bank account, and vise versa then the court will disregard the corporate entity.

If the corporation is engaged in illegal enterprise where it is ruled that the corporation was setup as a sole means for those involved to partake in an illegal activity, the corporate veil can be pierced. For instance, a corporation will not be tried for murder. The individuals responsible will be tried for it. The same thing can be applied for all kinds of cases such as drug trafficking, etc.

While it is possible for the corporate veil to be pierced, if you take the proper precautions when setting up your corporation you will help to protect your own personal assets. A few of the steps to protecting your personal assets are quite simple and some are even common sense. The important thing is that you take care when operating a business, and you get sound legal advice before doing anything questionable.

For more information about this article and/or the author visit http://www.lawyer-locater.com

For more information, news and articles see:

Hgv Courier Insurance - Hgv Courier Insurance
...e of insurance that you would normally purchase for a delivery business. So there are now insurers who specialise specifically in more complex insurance policys, they are experts in business insurance; therefore they will be able to advise you on all your insurance needs, to make sure you are completely covered, leaving no room for mistakes. The following is a list of the specifications that you may need to include in any haulage insurance cover and what can be potentially covered with the correct policy: Legal liability for injury or death to any other individual, including any such passengers. Legal liability for damage to outside property. Legal costs can be fully covered with the Insurers consent, in connection with an insurance claim against your policy. Your own damage (subject to any excess). Vehicle replacement, in the event of an accid...
Visit Hgv Courier Insurance...

Car Gap Insurance - Car Gap Insurance
...I must be honest and say that I had never heard of car gap insurance until recently. I suppose unless you buy a car on finance you might not know about such policies. As I understand it the car gap insurance covers you in the event of a car being stolen and never recovered or one that is deemed a total loss by the insurers. If you still owe money on the car to a finance company then the gap insurance will pay off the difference between what the insurer says the car is worth and what finance you have left on it. Some of the policies will even leave you with some money to use as a deposit on another car. It`s, probably something that many people would never even consider when they take a car out on finance. If the insurance company decides that the car is worth less than you thought it might be when it is deemed a total loss then you could have to stump up the money to pay off the bal...
Visit Car Gap Insurance...

Courier Insurance - Courier Insurance
...g sent might be quite costly or important. Losing such document or parcels can mean huge losses for some people. Therefore,Courier Insurance has become an important consideration for any one using mailing services. It is not uncommon for people to lose their mail before it reaches a desired destination. We make sure that your mail is covered sufficiently so that if you happen to lose it while it is on its way, you will be compensated. Many people may not see this as a necessary step until they experience a loss. So, why wait for it to happen to you? Get your insurance now and save yourself from huge losses. ...
Visit Courier Insurance...

Gap Insurance - Gap Insurance
...with car insurance but how many people know what gap insurance is? I know that I had never heard about this type of insurance before until it was brought to my attention recently. The gap insurance covers the deprecation on a car in the event of it being stolen and never recovered. How does it work you might wonder and do you need to take it out if you have outstanding finance on the vehicle? Say you have ten thousand pounds worth of car finance on your car but when it gets stolen the insurance company says it`s only worth eight grand. It means you`ll have to find the extra two thousand pounds to pay off the finance company. If you take out gap insurance on the car, this amount will be covered, so you don`t have to find any additional money to pay off the debt. Most people buy cars and decide to keep them for a set amount of time so they know how much fina...
Visit Gap Insurance...
Click For More Detailed Information on:
new motor pro ::your motor 2 u ::easy protection pro ::your motor 4 you ::big protection for you
Copyright © 2003-2012. All Rights Reserved.


Valid CSS!