Provide a brief overview of the case of Pursley v. Chickasaw Club, Inc. Introduce the key legal issues and questions presented in the case.2. Analysis: Address the following questions based on the information provided in the case:- Under what theory might the court make an exception to the limited liability of shareholders and hold William Sharp personally liable for the damages? What factors would be relevant to the court’s decision?- Suppose that Chickasaw’s articles of incorporation failed to describe the corporation’s purpose or management structure as required by state law. Would the court be likely to rule that Sharp is personally liable to Dancause on that basis? Why or why not?- Suppose that the club extended credit to its regular patrons in an effort to maintain a loyal clientele, although neither the articles of incorporation nor the corporate bylaws authorized this practice. Would the corporation likely have the power to engage in this activity? Explain.- How would the court classify Chickasaw Club, Inc. – domestic or foreign, public or private?- Discuss the liability of the sole shareholder of an S corporation regarding the torts of employees.3. Conclusion: Summarize the key findings of the analysis and provide insights into the potential legal outcomes of the case.
