The Case Of Salmon V. Salomo And Co Ltd

3131 Words7 Pages

Salomon v. Salomon [1897] A C 22 Course code: bus 3010 Spring 2014 Name: jay kishan bharat nandha Id number: 639317 Date: 1/3/2014 Lecturer name: Asangire A. Oprong i. Introduction Salomon v Salomon & Co Ltd [1897] AC 22 is a fascinating case of corporate law. The foundation for the case of Salomon v Salomon & Co Ltd [1897] is very straightforward- an organization is an independent legal unit and therefore a juristic individual in terms of law. The case has very simple aspects; however it is still critical case and has got several layers. In Victorian England, there was a Jewish merchant whose name was Aron Salomon; he used to deal in leather. Aron Salomon established a business with the seven shareholders; these shareholders included his kids and his 6 wife. He loaned the organization money and then he borrowed some amount of money that made him fall in a great trouble. He loaned as a plausible creditor. The law's question was that who must be paid firstly, those who were unsecured creditors (such as utility bills and employees) or Salmon as a secured creditor. The Court of Appeal of UK was anti-Semitic, and court considered Salmon and his established company as fraud. However, it was stated by House of Lords court that the company was well-established, the company was not fraud, and therefore Mr. Salomon was a different individual from his organization, his stakeholders, his rights privileges as secured creditor, and his directorship. This principle has been used in various cases. This is an extremely appealing case for the newly entered law students. ii. Facts of the case Salomon v Salomon Mr. Aron Salomon had a business that he converted in to a limited company as was called Solomon and co. limited. Salomon wa... ... middle of paper ... ...%202Write.htm (2010, 05). Salomon vs. Salomon. StudyMode.com. Retrieved 05, 2010, from http://www.studymode.com/essays/Salomon-Vs-Salomon-336356.html Rodrigo (June 12, 2012) essay and desertion samples. Salomon v a.salomon LTD. Retrived from http://writepass.com/journal/2012/06/salomon-v-a-salomon-ltd/ - last page ( 2013 , 2) .Salomon V Salomon & Co Ltd Researchomatic .Retrieved 2 , 2013, from http://www.researchomatic.com/Salomon-V-Salomon-And-Co-Ltd-153863.ht intro A.VIJAYCHANDRAN at Thursday, August 28, 2008. COMPANY LAW- THE VEIL OF INCORPORATION. THE MEANING & ORIGIN OF “VEIL OF INCORPORATION”. Retrieved from http://vijayhighcourt.blogspot.com/2008/08/company-law-partnerships.html Sya Hamdan . April 15, 2010. salomon V Salomon Co. Ltd. SALOMON V SALOMON CO. LTD (1897). Retrieved from http://milleniasociety.blogspot.com/2010/04/salomon-v-salomon-co-ltd.html

Open Document