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The Concept of an Independent Entity

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Added on  2020-03-16

The Concept of an Independent Entity

   Added on 2020-03-16

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Running head: SEPARATE LEGAL ENTITY0Corporations Law
The Concept of an Independent Entity_1
SEPARATE LEGAL ENTITY1Table of ContentsIntroduction................................................................................................................................2Artificial Legal Person...............................................................................................................3Legal Basis of Separate Entity...................................................................................................3Salomon v A Salomon And Co Ltd...........................................................................................4Future of Corporation Law.........................................................................................................5Requirement of Changes............................................................................................................5Conclusion..................................................................................................................................7References..................................................................................................................................8
The Concept of an Independent Entity_2
SEPARATE LEGAL ENTITY2IntroductionA corporation is considered as an artificial person in the eyes of the law means it has several rights and liability including the right to own property, sue or being sued, enter into a contractand issues shares to raise capital. A company has separate legal entity from its owners and directors meaning they cannot be held liable for the actions of the organisation. The concept of an independent entity was introduced in Salomon v A Salomon And Co Ltd case. This report will focus on analysing the legal basis of the provision of the different legal entity in the corporation’s law. The importance of Salomon v A Salomon And Co Ltd case will be discussed in the report as well. Further, the future and necessity of separate legal entity act will be addressed in the report.
The Concept of an Independent Entity_3

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