PIERCING THE CORPORATE VEIL Definition

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PIERCING THE CORPORATE VEIL is a legal concept through which a corporations shareholders, who generally are shielded from liability for the corporations activities, can be held responsible for certain actions.

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EXEMPT is being freed from or not subject to an obligation, liability, tax, etc.; excused. Examples: exempt gifts or tax-exempt bonus.

MARGIN CALL (Stocks) is a demand for additional funds because of adverse price movement is a stock.

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