• 24jjc
    creditors, which is seen as a precedence to be applied to the case later, taking the case Lee v Lee’s Air Farming as an example. (VU, 2011) In this case, the issue still be whether Lee and the company—Lee’s Air Farming Pty Ltd should be regarded as the same person. Referring to the precedent...
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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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  • 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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  • 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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  • Theories of Corporate Personality
    Theory * Realist Theory * Why Corporations? * 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...
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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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  • Patterson Operation
    principal shareholder and sole director) and an employee of that company. Lee v. Lee’s Air Farming Ltd (1961). Mr Lee incorporated a company, Lee’s Air Farming limited, in August 1954. The nominal capital of the company was $ 3000 divided into 3000 shares of $ 1 each. Mr Lee held 2999 shares, the...
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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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  • Coporate Law
    . Saloman V. Saloman.xlsx IMT Nagpur- LEB-2013-15-Prof. S.N. Sinha  14 CORPORATE PERSONALITY Lee V. Lee’s Air Farming Ltd.  Lee V. Lee Air Farming.xlsx IMT Nagpur- LEB-2013-15-Prof. S.N. Sinha  15 CORPORATE PERSONALITY Experience of a Shareholder is the...
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  • Malaysian Business Law-Types of Corporation
    Lee v Lee’s Air Farming [1961]. Lee formed Lee’s Air Farming Ltd company. He was the sole managing director with all shares except one. He was killed in flying for the company. His wife claimed for workmen’s compensation under the New Zealand workman’s compensation legislation. Then the court...
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  • Company
    was regarded as valid, and therefore he should be paid ahead of other creditors. The principles established in Salomon v. Salomon were applied in the New Zealand case of Lee v. Lee’s Ai r Farming Ltd [1961] AC12. Lee operated a crop-dusting business and was a pilot. He incorporated a company-Lee’s...
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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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  • 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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  • [Separation of legal personality and lifting the corporate veil ]
    veil from the cases of Salomon v A Salomon co ltd (1897), Catherine lee v Lee’s Air farming ltd (1960). Salomon v Salomon was the first principle case of its kind and its principle was that a limited company is a separate legal entity, in catherine lee v lee this case was reaffirmed, and Gilford...
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  • Corporate Law
    Registered Company compared with Partnership firm • Similarities and differences • All the differences flow out of one characteristic of the registered company viz. the separate legal personality of the company • Who is a person? Implication of the separate legal personality of the company Cases • Aron Saloman’s case • Lee v. Lee’s Air Farming Ltd. • Re Konali Tea Company ...
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  • Company Law
    others (the veil of incorporation) means that the company may own property, enter into contracts and sue and be sued in its own name. Salomon v Salomon & Co [1897] AC 22 A one-person company is a separate entity from its controller who may also be its sole employee. Lee v Lee’s Air...
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  • Consequences of Incorporation
    are the subscribers as members liable in any shape or form, except to the extent and in the manner provided by the Act’ Lee v Lee’s Air Farming Pty Ltd • FACT: weed spraying plane company. Mr L – governing director, employee and shareholder. L holds 2999 shares, sol holds 1 share. L die...
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  • Salomon Principle
    obligation were restricted to their share of the profit and capital. (Cheong - Ann Ping, 2001). Notably, in the case of Lee v Lee’s Air Farming Ltd (1961), Mr Lee was a vast majority shareholder of the company. He was killed in a plane crash accident. The company has been paying an insurance policy to...
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  • What Is a Company
    own name to the company, but did not transfer the insurance policy. When there was a fire, the insurance company did not pay out because the was not it’s owner, the company was the owner of the timber. 5. A company can contact its controlling participants. Lee v Lee’s Air Farming Ltd – The...
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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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