Jerry formed Jerry’s 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 didn’t worry about suing himself. He kept a single bank account and didn’t always use the word incorporated on his signs and work orders. Recently, the brakes failed on a customer’s car shortly after one of Jerry's employees had repaired them. Can the person injured by the brake failure recover from Jerry’s personal assets?

Answer rating: 100% (QA)

As Jerrys business signs and the work orders do not reflect that he is doing business as the c... View the full answer