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Legal Dictionary of Pakistan

Quick lookup for English, Urdu, and Latin legal terms used in Pakistani jurisprudence.

corporate veil

The legal assumption that the acts of a corporation are not the actions of its shareholders, so that the shareholders are exempt from liability for the corporation's actions. See PIERCING THE CORPORATE VEIL.

piercing the corporate veil

The judicial act of imposing personal liability on otherwise immune corporate officers, directors, and shareholders for the corporation's wrongful acts. -Also termed disregarding the corporate entity. See CORPORATE VEIL.