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Question
MetroLink Trading, Inc. is a corporation registered under the Revised Corporation Code with Eduardo Ramos as its president and sole stockholder. It borrowed Php 8,000,000 from Bank Alpha to finance a distribution center. MetroLink defaulted, and Bank Alpha sued MetroLink Trading, Inc. only; Eduardo Ramos was not named as a party. Bank Alpha seeks relief. (a) Define separate juridical personality and identify who possesses it in a corporate form. (b) Distinguish corporate liability from stockholders’ liability and state the usual exceptions that allow piercing the corporate veil. (c) Based on the facts, can Bank Alpha pierce the corporate veil to reach Eduardo Ramos personally? If yes, specify the elements that must be proven; if not, justify why not.