Essays Tagged: "Separate Legal Entity"
Corporations Law: Optimum Insurance
of OI Ltd can be personally liable for their breach of duties with regards to the company being a 'separate legal entity' and the 'lifting of the corporate veil'.As application of the principle in Sa ... corporate veil'.As application of the principle in Saloman's case to a public company, OI Ltd is a separate legal entity and is distinct from its directors and shareholders. This prevents the courts ...
Subjects: Law & Government Essays > Law
Discuss how English Company Law addresses the concern regarding the protection of minority shareholders?
The law concerning separate legal personality is largely governed by the 19th century case Foss v Harbottle, this case ... is largely governed by the 19th century case Foss v Harbottle, this case translates the doctrine of separate legal personality, the statutory contract and the principle of the majority rule. In Foss v ... for consent showed that the plaintiff claim had to fail.The rationale behind is that a company is a separate legal entity with an identity of its own bound by the articles and the memorandum of associ ...
Subjects: Law & Government Essays
Company Legal Entity.
The notion of separate legal entity and limited liability first created by the case Salomon v. Salomon & Co Lt ... se of Lords in Salomon v Salomon & Co Ltd evinces the accuracy of Gooley's observation that the separate legal entity doctrine was a "two-edged sword".[2] At a general level, it was a good decisio ... -edged sword".[2] At a general level, it was a good decision. By establishing that corporations are separate legalentities, Salomon's case endowed the company with all the requisiteattributes with whi ...
Subjects: Law & Government Essays
The legal position regarding the notion of separate legal entity and limited liability.
an artificially formed entity been regarded as an independent entity like a nature person which can separate from the persons who really formed or/and controlled it, and whether the persons who formed ... an avoid the liabilities when conjunctures of the company occurs. Afterward, two important notions: separate legal entity and liability came into people's mind after they had pondered a lot from the c ...
Subjects: Businesss Research Papers > Case Studies
Raising of the Corporate Veil - ENRON
t businesses might outlive the proprietors. Thus surfaced the concept of treating the business as a separate legal entity. Then, to encourage a spirit of entrepreneurship and risk-taking, the concept ... rs were often divergent. In this section, we discuss these concepts as they apply to corporates.1.1 Separate Legal EntityThe word "corporation" derives from the Latin corpus (body), representing a "bo ...
Subjects: Businesss Research Papers > Case Studies
Disadvantages of Forming a Corporation
exist that sole proprietors and partnerships do not have. Some of these advantages include being a separate legal entity with limited liability, ease of generating capital and transferring ownership, ... ownership, lack of mutual agency and continuous existence to name a few.By having a business with a separate legal entity, the business is treated similar to how a person is treated. The business can ...
Subjects: Businesss Research Papers > Accounting
Characteristics of a Corporation
ificial being, invisible, intangible, and existing only in contemplation of law in which the entity separate and distinct from its owners.” (Weygandt, 2005, p. 527) Since, “a corporation is ... exist that sole proprietors and partnerships do not have. Some of these advantages include being a separate legal entity with limited liability, ease of generating capital and transferring ownership, ...
Subjects: Businesss Research Papers
The Australian Share Market
y- ie. it must be ‘incorporated’. An incorporated business is one that is recognised as a separate legal entity from those individuals who own or manage the business.The share market deals o ...
Subjects: Social Science Essays > Economics
D and F Fresh Milk
RATE BUSINESS OWNERSHIPD and F fresh milk limited is an incorporated business. The company has a separate legal entity, which means that the company can enter into contracts, make any legal claims ... ess and not in the name of the owners of the business.The non-corporate business does not have a separate legal identity. This means that the owner and the business are one and the same in the eyes ...
Subjects: Businesss Research Papers > Management