Veil
/ˈveɪl/
Definitions
- (n.) A legal doctrine that separates the identity of a corporation from its shareholders, preventing personal liability.
The court pierced the corporate veil to hold the shareholder accountable for the company's debts.
- (v.) To disguise or conceal the true nature, often used in reference to hiding liability or responsibility.
The defendant attempted to veil his involvement in the fraudulent scheme.
Forms
- veils
- veiled
- veiling
See also
Commentary
Commonly used in corporate law to discuss liability shielding; precise drafting is crucial to avoid unintended personal liability.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.