mith Services, Inc., was a trucking company established in 2000 and owned by Tony Smith as the sole shareholder. Smith Services, Inc., had an account with Laker Express, a fuel provider, and often would charge fuel purchases for the company trucks to that account. Smith’s employees would fuel their vehicles and sign the account slip with a notation that the purchase was for Smith Services, Inc. Laker Express would bill Smith Services regularly for the charges on the account. After several months of low business, Smith Services ceased doing business and was dissolved in 2013, with its assets being distributed to creditors. Laker Express only recovered a small part of the amount owed by Smith Services, Inc. Tony Smith then opened up a new trucking service business as a sole proprietor. Laker Express sought to recover Smith Services' unpaid fuel charges, which amounted to about $35,000, from Smith. He argued that he was not personally liable for a corporate debt. Should a court hold Tony Smith personally liable?

Respuesta :

Answer:

Answers for related statements are given below.

Explanation:

1. Corporation

2.  Is

3.  Smith services

4.  Did

5. Was and was not

6. Was

7. Limited

8.  Their investment in the corporation

9.   Lost

lo. Might

11. Pierce the corporate veil

12.Abused and indistinguishable

13.Does not appear

14.Does not appear and does not appear

15.Is no and is no

16. Should not

As Smith Services, Inc. was a corporation, a court should not hold Tony personally accountable.

The people who own such a firm are not the same as the individuals who own it. This is why they are called separate legal entities.

Because Business Smith Services set up the Lakers Express account, it should be accountable for all account modifications, not Tony.

Because Tony did not combine commercial and personal activities, the court cannot rule against Tony's limited culpability.

There is no evidence that Tony violated any formalities, thus the court cannot hold him accountable.

Therefore, a court should NOT hold Tony Smith personally liable.

Learn more here: https://brainly.com/question/21437415.