Jerry formed Jerrys AutoShop, Inc. in 2005. Jerry has been the only shareholder since the...
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Jerry formed Jerrys AutoShop, Inc. in 2005. Jerry has been the only shareholder since the corporation was formed. Jerry has never worried about the corporate formalities because, as the only shareholder, he didnt worry about suing himself. He kept a single bank account and didnt always use the word incorporated on his signs and work orders. Recently, the brakes failed on a customers car shortly after one of Jerry's employees had repaired them. Can the person injured by the brake failure recover from Jerrys personal assets?
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