Ohio Jury Instruction - 1.9.5.1 Corporation As Alter Ego Of Stockholder

• Category: Federal - Jury Instructions
• State: Multi-State
• Control #: US-11CF-1-9-5-1
• Format: Word; Rich Text

Description

This form contains sample jury instructions, to be used across the United States. These questions are to be used only as a model, and should be altered to more perfectly fit your own cause of action needs.

Ohio Jury Instruction — 1.9.5.1 Corporation As Alter Ego Of Stockholder is a legal instruction used in Ohio courts in cases involving claims of corporate liability. This instruction addresses the legal concept of piercing the corporate veil, which allows a court to hold a corporation liable for the actions of its individual stockholders or directors under certain circumstances. In cases where a plaintiff seeks to hold a corporation responsible for the actions of its stockholder or director, the plaintiff must prove that the corporation is merely an alter ego or instrumentality of the individual, and that the individual has used the corporation to perpetrate fraud or injustice, or to evade personal responsibility. The purpose of Ohio Jury Instruction — 1.9.5.1 is to guide the jury in understanding the factors that should be considered in determining whether the corporation can be treated as the alter ego of the stockholder. These factors may include: 1. Control: Whether the stockholder exercises complete control over the corporation's financial and business affairs, leading to a commingling of personal and corporate assets. 2. Formalities: Whether the stockholder observes the necessary corporate formalities, such as holding regular meetings, issuing stock certificates, and keeping separate financial records. 3. Capitalization: Whether the corporation was properly capitalized when it was formed, and whether the stockholder adequately funded the corporation. 4. Fraud or Injustice: Whether the stockholder used the corporate form to commit fraud, perpetrate an injustice, or evade personal responsibility. 5. Separation: Whether the stockholder maintains a clear separation between personal and corporate affairs, refraining from using corporate assets for personal benefit. It is important to note that Ohio Jury Instruction — 1.9.5.1 is not the only instruction relating to piercing the corporate veil in Ohio. Other instructions may exist to address specific aspects or variations of this legal principle. By providing this instruction to the jury, the court aims to ensure a fair and thorough evaluation of whether a corporation should be treated as the alter ego of its stockholder. This instruction helps jurors understand the legal standards and factors to consider when deciding corporate liability in these cases. To summarize, Ohio Jury Instruction — 1.9.5.1 Corporation As Alter Ego Of Stockholder is a crucial instruction used in Ohio courts to determine whether a corporation can be held liable for the actions of its individual stockholders or directors. It provides guidelines for the jury to assess various factors, including control, formalities, capitalization, fraud or injustice, and separation, in making this determination.