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The principle of legal entity from the case salomon vs salomon?
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A corporation has a legal existence separate and apart from its shareholders (or members) and, even in the case of company which is wholly or substantially held by a single person, that single person is not liable--in the absence of fraud or other limiting factors--for the debts of the company he or she has incorporated.
Wiki User
∙ 14y ago
Wiki User
∙ 9y agoThe doctrine of Salomon v. Salomon Co. Ltd. is that of separate legal personality. Even though it has been undermined by exceptions allowing for the lifting of the corporate veil, it still is considered to be bedrock English law.
Wiki User
∙ 14y agoas i got from the case the principal of legal entity is that it assume a separate personality so it is distinct from its owner
Wiki User
∙ 14y agoseparate legal personality. A company as of being a separate entity.
- SRD
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