In deciding whether a corporation is legal, Indiana courts will look at the following factors: (1) is there under-capitalization? (2) are there corporate records; (3) are the corporation shareholders or directors engaging in (fraud or) misrepresentation?; (4) is the purpose of the corporation legitimate? (5) is the corporation paying individual obligations? (6) is there commingling of assets and affairs? (7) is there a failure to observe required corporate formalities? or (8) are other shareholder acts or conduct ignoring, controlling, or manipulating the corporate form? For further analysis, read the 1994 Indiana Supreme Court case (Aronson v. Price, 644 N.E.2d 864).