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State Courts -
North Carolina - February 7, 2006
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East Mkt. St. Square, Inc. v. Tycorp Pizza IV, Inc., NO. COA05-212,
COURT OF APPEALS OF NORTH CAROLINA, February 7, 2006, Filed
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Overview: An owner was individually liable for breach of a lease by a corporation due to a decision to pierce the corporate veil since the four elements of the instrumentality test were satisfied. The corporation had inadequate operating funds, the owner had complete control, there was no reason for the formation, and there was a commingling of funds.
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