• Business Law
    , P.232) The principles found in the Salomon v Salomon & Co Ltd [1897] AC 22 are similar to the Lee v Lee’s Air Farming Ltd [1961] AC 12 case. This shows the effects that the doctrine has had on future cases since 1897. Lee formed a company for the purpose of aerial crop spraying of which he was...
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  • Busniess Law
    restrictions imposed on their legal personality a company can have legal personality without limited liability if that is how it is conferred by the statute. In Lee v Lee’s Air Farming [1961] AC 12. “Mr. Lee incorporated a company, Lee’s Air Farming Limited, in August 1954 in which he owned all the shares...
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  • Corporation Law
    Legal Entity (or ‘Personality’) and Limited Liability Reading: TB [2.45 – 2.70] CA: s 124, ss 46 – 48 Cases: Salomon v Salomon [1897] AC 22, TB [2.50]; Lee v Lee’s Air Farming Ltd [1961] AC 12, TB [2.60]; Macaura v Northern Assurance Co Ltd [1925] AC 619, TB [2.70]. Rules: The...
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  • Veil of Incorporation
    members.  In the case of Lee vs Lee’s Air Farming Ltd (1961) AC 12, Lee was a pilot, who conducted an aerial top-dressing business, formed a company to conduct the business. Lee holds 2999 shares of the 3000 shares in the company. The remaining one share was taken by his solicitor as nominee...
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  • Company Law
    Farming Ltd [1961] AC 12 The shareholder of a one-person company does not have a legal or equitable interest in the company’s property. Macaura v Northern Assurance Co Ltd [1925] AC 619 Lifting the Veil of Incorporation By Statute Directors’ Liability for Insolvent Trading In some cases...
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  • Incorporation of Company
    separate person who can be a secured creditor with enforceable rights against the company. The principle establishing the separate legal personality of the company from the members was applied in the case of:  Lee v Lee’s Air Farming (1961) AC 12  Lee formed Lee’s Air Farming Ltd. and held all...
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  • Theories of Corporate Personality
    Corporations as People" (1978) 64 ABAJ 814 [ 8 ]. Dan-Cohen, M. Rights, Persons, and Organizations. University of California Press, Berkeley, 1986, 5. [ 9 ]. Salomon v Salomon & Co. [1897] AC 22 [ 10 ]. Macaura v Northern Assurance Co. [1925] AC 619 [ 11 ]. Lee v Lee’s Air Farming [1961] AC 12...
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  • Case List
    155 The company as a separate legal entity Salomon v Salomon [1897] AC 22 Lee v Lee's Air Farming [1961] AC 12 Macaura v. Northern Assurance Co Ltd. [1925] AC 619 Trustee companies: Broomhead (JW) (Vic) Pty Ltd v JW Broomhead Pty Ltd (1985) 3 ACLC 355 Lifting of the Corporate Veil: Gilford Motor Co...
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  • Company Law
    provided by the Act": Lord Macnaughton, ibid 51 (a) Consequences of the Salomon decision See Cohn & Simitis (1963) 12 LCLQ 215-225: Kahn-Freund 7 MLR 54-59 (i) Status of one-person companies - Lee v Lee's Air Farming Ltd [1961] AC 12 Companies (Single Member Private Limited Companies...
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  • Some of the Cases Regarding Australian Law
    for the company's other debts. Lee v Lee's Air Farming Ltd [1961] AC 12 (Can sue and be sued) The husband of the plaintiff was the controlling shareholder and director of a company formed by him. He was also employed by the company as a pilot. The company had employer's liability insurance. He was...
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  • Salomon V a Salomon
    title. A company reserves the rights to enter into legal relationships and employment contracts with the members of the company. In Salomon, both of Mr Salomon’s sons were the directors for Salomon and Co Ltd. Lee v Lees Air Farming Ltd showed a well illustration of Salomon; Lee was a major shareholder...
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  • law assignmnet
    , 2013, from http://en.wikipedia.org/wiki/Salomon_v_A_Salomon_%26_Co_Ltd.html LEE V LEE’S AIR FARMING LTD (1961). (n.d.). rulesinthecity. Retrieved September 7, 2013, from http://rulesinthecity.blogspot.com/2010/04/lee-v-lees-air-farming-ltd.html Macaura v Northern Assurance Co Ltd...
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  • company law
    ; Lee v Lee’s Air Farming [1961] AC 12; Barings Plc (In Liquidation) v Coopers & Lybrand (No.4) [2002] 2 BCLC 364; Giles v Rhind [2003] 2 WLR 237; Shaker v Al-Bedrawi [2003] 2 WLR 922. University of London External Programme 25 Company law 3.1 Corporate personality Corporate...
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  • Company Law
    only the company, as the owner of the timber, had the requisite insurable interest because of the doctrine of separate legal entity. 33 33 Lee v Lee’s Air Farming Ltd [1961] AC 12 Shareholding: 3000 £1 shares; Lee 2999; His solicitor 1 Lee’s Air Farming Ltd   Lee’s dual...
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  • legal position of directors
    affairs. Director of a company is neither an employee nor a servant to the company. They are professional people who were hired by the company to direct its affairs. However there is no restriction under the Act, that a director cannot be an employee to the company. In Lee v. Lee’s Air Farming Ltd...
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  • Patterson Operation
    case of Lee vs Lee’s Air Farming Ltd (1961) AC 12, Lee was a pilot, who conducted an aerial top-dressing business, formed a company to conduct the business. Lee holds 2999 shares of the 3000 shares in the company. The remaining one share was taken by his solicitor as nominee for Lee. Under the...
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  • Itpromtess
    ) of the act, on registration of the 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...
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  • Marketing Research Assingment
    : Principles, Policy and Process (2nd ed, Butterworths, Sydney, 1992), p 97. [10] See Gas Lightning Improvement Co Ltd v IRC [1923] AC 723; Macaura v Northern Assurance Co Ltd [1925] AC 619; Lee v Lee's Air Farming Ltd [1961] AC 12; Tunstall v Steigman [1962] 2 All ER 417; Henry Brown & Sons v Smith...
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  • Company Law
    assets of the company in the event of its being wound up as is provided by this Act. (Emphasis added). c. Cases illustrating further consequences of incorporation:- Lee v Lee’s Air Farming Ltd [1961] AC 12 Can a company enter into a contract with its members? Macaura v Northern Assurance Co...
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  • Case Laws for Commercial Laws
    all the money back that was transferred when the company was started: rescission of the agreement for the business transfer itself, cancellation of the debentures and repayment of the balance of the purchase money. Lee v Lee’s Air Farming Ltd [1961] AC 12 is a UK company law case, concerning the...
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