Search results
Results from the WOW.Com Content Network
The Second Circuit affirmed the District Court's finding in favor of Kodak. The court found that since Atex was incorporated in Delaware, that Delaware laws applied. The court then considered both an alter ego theory and an agency liability theory that could impute responsibility for Atex's actions to Kodak. The court also briefly discussed and ...
Use of the corporation as a façade for personal dealings (alter ego theory) Not all of these factors need to be met in order for the court to pierce the corporate veil. Further, some courts might find that one factor is so compelling in a particular case that it will find the shareholders personally liable.
Prior to this case the primary means of imposing liability on a corporation was through vicarious liability, but that applied only to employees of the company, which excluded the directors. After the Lennard case, the alter ego theory has become the most powerful method of imposing liability on a corporation.
The domination of the parent company over the subsidiary had to be complete for the parent company to be treated as liable for the debts of the subsidiary. It was needed that the subsidiary be merely the alter ego of the parent, or that the subsidiary be thinly capitalized, so as to perpetrate a fraud on the creditors. Cardozo J said the following.
Since the purpose of the law is to offer protection to Third Parties who act in good faith, it is reasonable to allow them to believe that, in most cases, the agents have fulfilled this duty. After all, the principal selects the agents and has the power to control their actions both through express instructions and incentives intended to ...
The New York judge who ordered Donald Trump to pay a nearly $500 million civil fraud judgment said Thursday he won’t step aside from the case, rebuffing concerns that the verdict was influenced ...
Ultramares Corporation v. Touche, 174 N.E. 441 (1932) is a US tort law case regarding negligent misstatement, decided by Cardozo, C.J. It contained the now famous line on "floodgates" that the law should not admit "to a liability in an indeterminate amount for an indeterminate time to an indeterminate class."
A case theory (aka theory of case, theory of a case, or theory of the case) is “a detailed, coherent, accurate story of what occurred" involving both a legal theory (i.e., claims/causes of action or affirmative defenses) and a factual theory (i.e., an explanation of how a particular course of events could have happened). [1]