Term of Day
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that lifts or pierces the 'corporate veil' (limited
of the stockholders in a
firm) and holds the directors and stockholders personally
for the firm's debts. It is applicable generally where it can be shown that the firm is merely a
for the personal dealings of certain individual(s). And that, in effect, the firm does not exist as a separate and
envisaged in the
. Latin for, the other I.
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