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Gale Encyclopedia Of American Law 3Rd Edition Volume 1 P27

Gale Encyclopedia of American Law Volume 1 P27 fully illuminates today's leading cases, major statutes, legal terms and concepts, notable persons involved with the law, important documents and more. Legal issues are fully discussed in easy-to-understand language, including such high-profile topics as the Americans with Disabilities Act, capital punishment, domestic violence, gay and lesbian rights, physician-assisted suicide and thousands more. | 248 ALTERATION becomes an instrument for the personal advantage of its parent corporation stockholders directors or officers. When a court applies it the court is said to pierce the corporate veil. Courts have not traditionally applied the alter ego doctrine to other business forms such as partnerships and limited partnerships because partners generally do not enjoy the same form of limited liability as corporate stockholders officers and directors. By comparison however owners of limited liability companies may structure their business in a manner similar to a corporation so that members and managers are shielded from personal liability for the debts of the limited liability company LLC . Several courts have determined that the alter ego doctrine may also apply to LLCs. For instance in Kaycee Land Livestock v. Flahive 46 P.3d 323 Wyo. 2002 the Wyoming Supreme Court held that the equitable doctrine of piercing the veil was an available remedy under the Wyoming Limited Liability Company Act. CROSS REFERENCES Corporations Immunity Liability. ALTERATION Modification changing a thing without obliterating it. An alteration is a variation made in the language or terms of a legal document that affects the rights and obligations of the parties to it. When this occurs the alteration is material and the party who did not consent to the change can be released from his or her duties under the document by a court. When an essential part of a writing has been cut torn burned or erased the alteration is also known as a mutilation. The alteration of a document by someone other than a party to it is called a spoliation. ALTERATION OF INSTRUMENTS A change in the meaning or language of a legal document such as a contract deed lease or commercial paper that is made by one party to the document without the consent of the other after it has been signed or completed. If such a change is made by a third party without the consent of either party to the instrument it is called a spoliation