The Principle of Separate Corporate Personality
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 Ltd[1], 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 concept of legal personality and describe the veil of
incorporation. I will give examples of when the veil of incorporation
can be lifted by the courts and statuary provisions such as s.24 CA
1985 and incorporate the varying views of judges as to when the veil
can be lifted. Finally I will state whether or not I agree with the
given statement.cobd bdr sebdbdw orbd bdk inbd fobd bd.
When a company receives a certificate of incorporation it has a
'separate legal personality'. In law the company becomes a legal
person it its own right. The fundamental concept to become familiar
with when starting up a business is the idea that the business has a
legal personality in its own right, particularly when it assumes the
form of a limited liability company. This essentially means that if
one commences business as a limited liability company, then the
corporation...
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[3] Lecture notes
[4] [1916] 2 AC 307, HL.
[5] Farrar, J and Hannigan, B (1998) Farrar's Company Law (4th edn),
p.75
[6] [1933] Ch 935, CA.
[7] Cavendish Lawcards Series (2002) Company Law (3rd edn), p.15
[8] [1976] 3 All ER 462, CA.
[9] Griffin, S. (1996) Company Law Fundamental Principles (2nd edn),
p.19
[10] [1990] Ch 433.
[11] Lecture notes
[12] Lecture notes
[13] [1939] 4 All ER 116.
[14] Farrar, J and Hannigan, B (1998) Farrar's Company Law (4th edn),
p.71
[15] [1969] 3 All ER 855 at 860, CA.
[16] Griffin, S. (1996) Company Law Fundamental Principles (2nd edn),
p.24
[17] [2001] 3 All ER 987
[18] See www.acca.co.uk
[19] See www.walkermorris.co.uk
[20] See www.exchangechambers.co.uk/lifting.htm
[21] See www.bcasonline.org
The main legal issue before the court arises, in determining whether liability should be extended to reach assets beyond those belonging to the corporation and whether the corporate veil should be pierced with regard to personal liability to others.
This course has taught me a lot about the different personality theories as well as the best known psychology theorists that have developed these theories. Personality consists of the thoughts, feelings, and behaviors that make an individual unique. Numerous theories have been emerged to implicit the different features of personality. The main purpose of some theories is to focus on explaining how personality developed.
“Your vision will become clear only when you can look into your own heart. Who looks outside,
Sollars, G. C. 2001. An appraisal of shareholder proportional liability. Journal of Business Ethics, 32(4), 329-345.
With personality being thought to make up the key components of how we think, feel and behave, it can be seen that personality is of importance to emotion is felt (Burger, 2011). With the completion of two personality tests the discrepancies and similarities in my results will be analysed and reflected upon in terms of how this affects not only my emotions but how this then impacts on my practice as a social worker.
It is important for a brands personality to match up with that of its intended target customers. Reading through some marketing sites Dr. Brian Monger situated his words in a way that I like best for the task of creating a brand image. Dr. Monger stated “ The task of creating a brand image often needs to move beyond attributes or feelings, to include the ultimate consequences of product use and the relationship of product use to people’s life-styles, needs, and values. A positioning strategy that focuses only on attributes or feelings can be shallow and less effective than one that is based on a richer knowledge of the customer.” Simply put make your brand relate to the intended buyer on a personal level, one that hits home with the things that they want and like to do. The understanding needs to be met that each target market will have different relations to products from the other. High priced cars can b...
Currently, directors have no prima facie entitlement to be remunerated for their work (Hutton v West Cork Railway Co 1883), but Article 23 of the Companies (Model Articles) Regulations 2008 establishes that it is for directors to decide the lev...
Shareholder Agreements offers a mechanism to the founding members of a company to regulate (and sometimes restrict) the shares allotted to the stakeholders. Though the restrictive covenants do not carry much favour by courts unless they form part of the company’s bylaws, yet they offer a way in which owners of a company can invite and incentivize talent – all the while regulating the flow of actual stake. The policies of a company, and sometime even ownership, can be jeopardized in an unregulated scenario.
Jensen, M.C and Meckling, W.H (1976). Theory of the Firm: Managerial Behavior, Agency Costs and Ownership Structure. Journal of Financial Economics, October, 1976, V. 3, No. 4, pp. 305-360. Available on: http://www.sfu.ca/~wainwrig/Econ400/jensen-meckling.pdf. [Accessed on 20th April 2014].
Discussed below are different researchers’ arguments and explanations on how personality predicts employee performance. This essay will explore both negative and positive ways in which personality can predict the performance, as well as explaining what personality is. Past research has “demonstrated that personality constructs are associated with work performance, with some traits like conscientiousness predicting success around jobs. Other linked with specific occupations e.g. extraversion correlates with success in sales and management as well as training performance supporting”, (Barrick et al., 2002, 87: p.43).
Birmingham Corporation, a local government authority, was looking for a compulsory acquisition of land which operated by a subsidiary company, Birmingham Waste Co Ltd. The owner of the land is Smith, Stone & Knight. Birmingham Waste Co Ltd was a wholly owned subsidiary of Smith, Stone & Knight.2 However, Birmingham Corporation refused to apportion compensation for disturbance of business to Birmingham Waste Co Ltd. Birmingham Corporation claimed that the subsidiary company did not own the land and not entitled to the compensation claim. The court, Atkinson J (Judge) held that the subsidiary company acted as an agent of the holding company and Birmingham Corporation must pay for the compensation. Nevertheless, Atkinson J had formulated six criteria that must be fulfilled to verify the agency relationship. By giving an example of the situation, King Sdn.Bhd is a subsidiary company of Queen Sdn.Bhd. King occupies premises which owns by Queen. King is carrying on the business on behalf of Queen. The government decides to purchase the premise as a compulsory for another purpose of use. Therefore, Queen claims for the compensation due to the disturbance of the acquisition for the premises which is occupied by King now. However, the government authority refuses to make a claim to King as King is holding less than one year of the land tenancy, King is not entitled to the compensation according to the relevant legislation. In fact, King is acted as an agent and conducting the business on behalf of Queen. Therefore, Queen can sue the authority for the compensation claim due to disturbance of business. Queen is entitled to the compensation as the subsidiary (King) is merely an agent of its parent
Personality Theories The Big Five Approach plays a major role in the process of understanding and analyzing a child’s outcome, as well as any adjustment issues that may occur during a child’s development. Along with these accomplishments, the Big Five approach has proven to be able to cover children, adolescents, and adults under one spectrum (Van den Akker et al., 2013). The article, “The development of personality extremity from childhood to adolescence: relations to internalizing and externalizing problems” provides an intense amount of information on personality theories and goes into depth about how personalities develop and how to distinguish between them as well. This study not only incorporated the study of personality extremity throughout childhood and adolescence, but the issues between personality extremities and personality adjustments as well (Van den Akker et al., 2013).
Business psychology might be very helpful to business, but is it helpful as a sustainable career? The job’s of those business psychologist will most likely entail them to being an adult. Is this career field a place where someone might want to go as an adult? According to research done by the Population Reference Bureau, the past years have shown approximately 50 percent (fluctuating hear and there by a very small percentage) of adults getting married. With this data, it is understood that at least half of adults need to provide and take care of a family. The real task in this paper is to find out if business psychology is a career field that is a goal worth working toward, can it sustain a family, and how does one benefit from it?
The office of the Director of Corporate Enforcement (ODCE, 2015), Ireland defines Corporate Governance as “the system, principles and process by which organisations are directed and controlled. The principles underlying corporate governance are based on conducting the business with integrity and fairness, being transparent with regard to all transactions, making all the necessary disclosures and decisions and complying with all the laws of the land”. It is the system for protecting and advancing the shareholder’s interest by setting strategic direction for the firm and achieving them by electing and monitoring the capable management (Solomon, 2010). It is the process of protecting the stakes of various parties that have their interest attached with a company (Fernando, 2009). Corporate governance is the procedure through which the management of the company is achieving the goals of various stake holders (Becht, Macro, Patrick and Alisa,