Steering Clear Ltd. is a manufacturer of an expensive automatic helmsman, which is used to navigate ocean cruisers. Mr. Jones ordered such a helmsman on behalf of a company called Cruisin’ Ltd. The helmsman was supplied, but Cruisin’ Ltd. did not pay its account. Because of this delinquency, Steering Clear Ltd. decided to investigate the background of Cruisin’ Ltd. and discovered that it has a grand total of two issued shares – one held by Mr. Jones and the other by his wife, Mrs. Jones. Mr. Jones has advised Steering Clear Ltd. that the debtor company has only $5.00 in the bank and may have to go out of business soon. Steering Clear Ltd. wants to sue Mr. Jones personally for the debt. Will Steering Clear be successful? On what basis? What is the largest obstacle facing Steering Clear Ltd.’s potential action against Mr. Jones? What should Steering Clear Ltd. have done differently from a business perspective?