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"It is becoming increasingly difficult to predict whether in any particular case the courts will or will not adhere to the principle of separate corporate personality as confirmed in SALOMON v SALOMON & CO LTD (1897)."
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| Submitted: Mon Feb 23 2004
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"It is becoming increasingly difficult to predict whether in any particular case the courts will or will not adhere to the principle of separate corporate personality as confirmed in SALOMON v SALOMON & CO LTD (1897)." The principle of separate corporate personality has been firmly established in the common law since the decision in the case of Salomon v Salomon & Co Ltd1, whereby a corporation has a separate legal personality, rights and obligations totally distinct from those of its shareholders. Legislation and courts nevertheless sometimes "pierce the corporate veil" so as to hold the shareholders personally liable for the liabilities of the corporation. Courts may also "lift the corporate veil", in the conflict of laws in order to determine who actually controls the corporation, and thus to ascertain the corporation's true contacts, and closest and most real connection. Throughout the course of this assignment I will begin by explaining the...
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