• Business Law
    Business Law “The doctrine laid down in Salomon v Salomon & Co Ltd [1897] AC 22 has to be watched very carefully. It has often been supposed to cast a veil on the personality of a limited company through which the courts cannot see. But that is not true. The courts can, and often do, draw aside...
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  • Veil of Incorporation
    Property Transferability of Shares Financial Power Capacity to Sue and be sued 3 D IFFERENCE BETWEEN A C OMPANY AND ITS PERS ONNEL S HAREHOLDERS Shareholder is an owner of shares in a company. Due to the principle of separate legal personality, a shareholder does not own any assets...
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  • Busniess Law
    promoters and company, the promoters motive in setting up a company absolutely irrelevant in determine corporate liability, analyze the case of Salomon v. Salomon and if the members are liable the company’s liabilities. All of these, this essay will provide a simple theoretical explanation. The Lord MacNaughten...
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  • Corporation Law
    regulatory history, the first thing to note is the limitation of the federal government’s power to make law with respect to the incorporation of corporations: s 51(xx); Huddard Parker has been a key factor determining the trajectory of the history of corporate regulation in Australia. The corporate history...
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  • Incorporation of Company
    companies in Malaysian is contained in the Companies Act, 1965. This Act is based on the English Companies Act 1948 and the Australian Uniform companies Act 1961. It is due in these historical ties, that the English and Australian Law has some significance on Malaysian Company Law. This is why you will see English...
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  • Company Law
    into existence as a body corporate at the beginning of the day in which it is registered with the name specified in its certificate of registration: s 119. This means that after the application for registration has been lodged with ASIC and a certificate of registration has been issued, a new legal entity...
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  • law assignmnet
    can be employed as well. We can say the directors as employee of the corporation. They cannot be treated as agent or trustee of the company. SALOMON V SALOMON & CO [1897] In this case, Salomon was a shoe manufacturer. He incorporated a company named Salomon and Co. Ltd. He took over the entire business...
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  • Some of the Cases Regarding Australian Law
    Ballantyne v. Raphael – • A syndicate containing more that 20 people was formed to buy a large tract of land. It was intended to subdivide the land and sell the indiv. blocks at a large profit. • Held- it is not a p/s as the venture was an isolated act. Salomon v A Salomon & Co Ltd [1897] AC 22 (separate...
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  • Case List
    COMPARISON OF BUSINESS ORGANISATIONS Cases concerning partnership: Polkinghorne v Holland (1934) 51 CLR 143 National Commercial Banking Corp of Australia Ltd. v Batty (1986) 160 CLR 251 United Dominions Corporation Ltd. v Brian Pty Ltd. (1985) 157 CLR 1 LECTURE AREA 2 - HISTORY AND LEGISLATIVE FRAMEWORK...
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  • Theories of Corporate Personality
    Corporate Personality And Limited Liability Cases: * Macaura v. Northern Assurance Co. * Lee v. Lee’s Air Farming * Salomon v. Salomon & Co. ACKNOWLEDGEMENT I Manas Agarwal of B.A.LL.B (Hons.) is really grateful to Ms. Fincy V, without whose help and corporation this project would not...
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  • Company Law
    TOPIC 2: CORPORATE PERSONALITY: SALOMON V SALOMON [1897] AC 22 "It seems to me however that when one considers the fact that these shareholders were nominees of Mr Salomon's, that he took the whole of the profits and that his intention was to take the profits without running the risk of debts...
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  • Salomon V a Salomon
    Salomon v A Salomon and Co Ltd (Salomon) has created an impressive case in English Law history. The decision of the House of Lords in Salomon has reaffirmed the separate legal personality of a company. A separate legal personality is also known as the corporate personality. It is one of the consequences...
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  • Patterson Operation
    treated as agent or trustee of the company. Related case references Following cases can be mentioned as reference cases regarding the issue discussed: v   Macaura was a landowner who sold timber from his estate to a company of which he was the sole owner. He insured the timber that lay on his land in his...
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  • company law
    the articles of association and shareholders’ agreements 95 Chapter 10 Class rights 109 Chapter 11 Majority rule 121 Chapter 12 Statutory minority protection 135 Chapter 13 Dealing with outsiders: ultra vires and other attribution issues 149 Chapter 14 The...
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  • Itpromtess
    company the association of persons becomes a body corporate by the name contained in the memorandum. 3)REVIEW 1-Lee v Lee’s Air Farming Ltd Lee v Lee’s Air Farming Ltd [1961] AC 12 is a UK company law case, concerning the veil of incorporation and separate legal personality. The Privy Council reasserted...
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  • Company Law
    who issued their opinions when deciding cases. Principles announced in these cases became precedent for later judges deciding similar cases. 12 12 Doctrine of Stare Decisis   Based on the common law tradition, past court decisions become precedent for deciding future cases. Lower...
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  • legal position of directors
    Institutional Nominee        Lending Institutional Nominee        Holding company nominee        Collaborator Nominee        Government Nominee u/s. 48B        Debenture holder Nominee        Independent Director        Others The individual cannot be a director for more than 15 public limited...
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  • Case Laws for Commercial Laws
    LGEAL PERSONALITY Foss v Harbottle (1843) 67 ER 189 is a leading English precedent in corporate law. In any action in which a wrong is alleged to have been done to a company, the proper claimant is the company itself. This is known as "the rule in Foss v Harbottle", and the several important exceptions...
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  • Company Law
    may prefer to do so via the LawNet database (access through the SMU Library website). Note: lawyers often abbreviate “Companies Act” to “CA”. Thus, s 19 CA means section 19 of the Companies Act. (Note that the spelling is Companies Act, not Company’s Act or Company Act). Ultimately, of course,...
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  • Marketing Research Assingment
    2 (Group Assignment) (15%) Instruction: Answer ONE (1) Question Only. 1. The decision of the House of Lords in Salomon v Salomon & Co LTD (1897) AC 22 has been described as “calamitous” by Otto Kahn Freund. To what extent do you agree with such a view? 2. Critically assess the...
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