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 of the “veil of incorporation”
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Science and Religion: Two Separate Entities As a result of many new astronomical discoveries throughout the seventeenth century‚ it was clear science and religion greatly contradicted each other. Followed by the questioned findings of Nicolaus Copernicus‚ Galileo Galilei believed the sun was situated motionless in the center of the universe while the earth rotated on its axis‚ all the while revolving around the sun. This idea‚ though scientifically proven to be correct‚ completely opposed the
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key focus. A corporation is defined as a group of individuals working together to accomplish a goal‚ that goal being making themselves and shareholders as much money as possible is the shortest amount of time possible. A corporation is seen as a legal person by law. In the film The Corporation they illustrate these "businesses" to depict many negative human personality traits. One trait given to corporations is the incapacity to maintain enduring relationships. Large corporations find countries
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Abolishing Veil Piercing Stephen M. Bainbridge * “I weigh my words when I say that in my judgment the limited liability corporation is the greatest single discovery of modern times . . . . Even steam and electricity are far less important than the limited liability corporation‚ and they would be reduced to comparative impotence without it.” –President Nicholas Murray of Columbia University (1911)1 I. INTRODUCTION ...............................................................................
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Question 1 A corporation is a separate legal entity from its owners. The principle of separate legal entity is a fundamental of company law‚ and is demonstrated by SS119 and 124 of the Corporations Act. In other words‚ if a corporation‚ in the course of doing business‚ is involved in any legal action‚ then the corporation‚ for legal purposes‚ is its own person. The corporation is liable for its debts‚ not the members; members do not have the proprietary interest in the company assets. This is how
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The main issue in the question� entails a discussion relates to corporate entity or personality. As noted a key feature of the company is that is a legal person with a separate existence from the company ’s members� or its directors. It is an artificial person in the eye of law that exist independently and separate from any other entity associated with the company. As a consequences a company can enter into contracts with its own shareholders� and own property in its own right. Beside that‚ a company
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Thought Paper Number 1-The Idea of Abolishing Marriage as a Legal Entity “Marriage is one of the most important experiences of a person’s life‚ but like any legal process‚ it can get complicated. (How Marriage Works). “When you need license to do something it means either people in general are not mature enough to do it or it needs special skills‚ which are to be tested before you can be allowed to do it. So‚ if you have license to do something‚ it means you are different and special from the
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To Veil of Not To Veil Those of people that are brought up in typical western culture believe that Muslim women who wear the job symbolize the continued oppression of women in the Middle East. In “To Veil or Not To Veil” Jen’nan Ghazal and John P. Bartkowski perform a case study of different forms of identity among Muslim women in Austin Texas. This experiment delves into Muslim culture and tries to analyze both sides of the argument a primarily factual essay. The article carefully analyses both
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A CRITICAL ANALYSIS OF THE DOCTRINE OF LEGAL PRECEDENTS ADITI GHOSH 2ND Yr. LL.B. (HONS.) INTELLECTUAL PROPERTY LAW RAJIV GANDHI SCHOOL OF INTELLECTUAL PROPERTY LAW IIT KHARAGPUR 15 August 2011 Table of Contents INTRODUCTION 1 WHAT IS MEANT BY A PRECEDENT? 2 TYPES OF PRECEDENTS 2 Original precedent 2 Authoritative or Binding precedent 2 Persuasive precedent 3 THE DOCTRINE OF STARE DECISIS? 3 HOW RELEVANT IS THE IDEA OF JUDICIAL PRECEDENTS? 6 WHAT IS THE BINDING ELEMENT OF A CASE? 7 WHY
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An entity set that does not possess sufficient attributes to form a primary key is called a weak entity set. One that does have a primary key is called a strong entity set. For example‚ The entity set transaction has attributes transaction-number‚ date and amount. Different transactions on different accounts could share the same number. These are not sufficient to form a primary key (uniquely identify a transaction). Thus transaction is a weak entity set. For a weak entity set to be meaningful
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