On what theory can Bank of America sue Josh personally for the loan that it made to The Divine Grape, Inc.? Is Bank of America likely to prevail? Why or why not?
Business Analysis In December 2018, Josh incorporated The Divine Grape, Inc. to own and operate a winery in Napa Valley. Josh paid $1000 for 100 shares of stock and, at the same time, loaned The Divine Grape, Inc. $80,000. Josh elected himself, his wife, Leslie, and adult son, Oliver, to the Board of Directors. The […]