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Case law
The written case notes: facts, issues, judgment and the principle to remember.
House of Lords
During the First World War, the House of Lords held that a company registered in England may acquire an enemy character if the persons in real control of its affairs are enemies. The case matters because it shows that in wartime the court may look behind a company's separate legal personality to see who really controls it. It is the leading example of the 'enemy character' ground for lifting the corporate veil.
House of Lords
The House of Lords held that a validly registered company is a separate legal person from its members, even when one person holds almost all its shares. So Aron Salomon was not personally liable for the company's debts, and as a secured debenture holder he was paid before the unsecured creditors. The case is the foundation of modern company law and the leading authority on corporate personality.
Company Law (Corporate Law)
The company was held bound by a bond its directors gave to the Royal British Bank, even though the general resolution required by the company's deed of settlement had not been passed. The bank was taken to know the deed, but it was entitled to assume that internal formalities like passing the resolution had been completed. The case gave the doctrine of indoor management its other name, 'the rule in Turquand's case'.
Notes
Corporate Law (Company Law) studies the company from beginning to end: from what a company is and how it is born, to how it finally comes to an end. The course has six units; the first deals with the introduction to company law and the incorporation of a company.
136 min read
The evolution of corporate law in India has been influenced significantly by British laws, evolving over time to regulate the rights, duties, and responsibilities of companies. Below is the development explained in a po…
113 min read
Key Point: The case clarified that corporations are not "citizens" under the Indian Constitution.
18 min read
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Company Law (Corporate Law)
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Company Law (Corporate Law)
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Company Law (Corporate Law)
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