Upon incorporation, a company becomes a separate legal entity, distinct from its members. Thus, it acquires rights, obligations, and duties, which are different and distinct from those of its members. Assets, debts, and obligations all belong to the company and not the members. This is the corporate personality used by the company to conduct its business. Discuss this statement in view of the decision in Salomon v Salomon [1897] AC 22.
Issue
The discussion of this statement is concerned with the concept of separate legal personality, which falls under the regulation of corporate law. The question for discussion is the Continue reading...