Unit 5.5: The Separate Entity Doctrine “It is a basic doctrine of company law: that for certain purposes a company is a legal entity separate from the legal persons who became associated for its formation or who are now its members and directors. For certain purposes‚ there is a corporate screen around the members and directors. This is often referred as to the ‘Veil of Incorporation.’ The authority for that proposition is the leading case of Salomon v Salomon & Co Ltd [1897] AC 22. The
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ANALYSIS The principle of Separate Legal Entity has stood the test of time because it aims at giving the company a certain practical utility. The separate personality of a company as distinct from its shareholders and this was established by the House of Lords in Salomon v Salomon & Co [1897]. This led to the veil of incorporation; that a registered company is a legal person separate from its members . By separating the management from the investment‚ a company enables the investing public to have
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Analysis Salomon v. Salomon & Co. 1897 Human Beings are generally legal person but humanity is a state of nature and legal personality is an artificial construct‚ which may or may not be conferred. The origin of corporation lies in a logical extension of this separation of humanity from legal personality as the group of humans who are engaged in a common activity could attempt to simplify their joint activity by gaining legal personality from the venture. Introduction: Solomon was leather Merchant
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SEMINAR II The first legal issue relates to the nature of Ferox Co. The relationship between Alex‚ Brian‚ Christina and Sally also need to be clarified in legal terms as well as the relationship of Dominic and the firm at each stage. The second issue is who the persons liable for the first £50‚000 debt and the second £50‚000 from Emily. The third issue deals with the £30‚000 that Dominic borrowed from Francis and the responsible parties who are liable for it. The fourth issue revolves around whether
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the financial services sector in the subsequent areas. The main service provided by SPL is Document Digitizing & Record Management by way of digitization. Today every organization every department and every individual is growing day by day. Every sector is booming for e.g. Information technology‚ Aviation‚ Textile‚ Retail‚ Real E-State and Tourism. In every sector maintaining and preserving of documents is a big question for the organization or company. Because keeping record of 70-80 years is
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DRAFT for introducing Clinical Legal Education Programme in NLU Jodhpur By: Ajay Singh Brief description of the programme/project/Initiative : Clinical Legal Education needs to be aimed at bridging the disconnect between the Constitutional promise of a dignified life to every citizen and the reality of undignified human existence of majority of the population‚ especially in rural India. The clinical programmes would work to secure the objectives of good governance and citizen participation‚
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Tutorial 2: The Concept of Separate Legal Personality 1. State the legal principle in company law established by the case Saloman v Saloman. What do you think? Do you think that the decision would be the same today? 2. ‘The Salomon decision was a scandalous one which unleashed a tidal wave of irresponsibility into the business community.’ Discuss. 3. When does a company become a separate legal entity? 4. What is the legal effect of incorporation of a company? 5. . Explain the significance
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CROSS EXAMINATION The party who calls a witness examines the witness with a view to adducing evidence in proof of his case and this is what is referred to as examination in chief covered at S. 145(1) thereafter the adverse party has a right to examine that witness. If the adverse party exercises that right‚ the examination is referred to as cross-examination Section 145(2). Cross examination is a fundamental right not a privilege and if a person is denied the right‚ the denial can vitiate the
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means that since the deceased was under the influence of alcohol at the time that he signed over the deed that this contract should be null and void. The deceased lacked the mental capacity to make this type of decision. Therefore this contract is not legal. Conclusion In this case the court ruled in favor of the plaintiff. It was concluded that the defendant obtained the deceased signature while he was intoxicated which deeply impaired his mental capacity to make such a decision‚ therefore it was ruled
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Table of Contents Overview & Development English Legal System……………………………………………….2 Characteristics of English Legal System ………………………………………………………...3 References …………………………………………………………………………………….....6 Business & Corporate Law English Legal System Most would agree that some form of legal system is neces sary for a society to thrive. This is true of the most primitive of cultures‚ but the English legal system has developed over many centuries‚ and in the process‚
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