answersLogoWhite

0

As I recall from my days in law school, many many years ago, Old Man Saloman was in the shoe business. Britain enacted a statute providing for the incorporation of businesses. A corporation then had to have at least seven shareholders. Old Man Salomon formed a corporation, with all seven shareholders being members of his family. The business of the corporation eventually went under, leaving considerable unpaid debts. (I think that by the time the case got to court, Old Man Salomon had kicked the bucket.) The creditors argued in court that the shareholders should be liable for the debts of the corporation, because they were all related to Old Man Salomon, and that the corporation was set up a mere sham. The court held in favour of the shareholders, Old Man Salomon's relatives. The fact that the shareholders were all related to Old Man Salomon was irrelevant in determining that the corporation legitimately existed as a separate entity, and thus the individual shareholders were not held liable for the corporation's debts.

User Avatar

Wiki User

15y ago

What else can I help you with?

Related Questions

How many judges comprised the Court which decided Salomon v Salomon?

The Court of Appeal that decided Salomon v. Salomon & Co. Ltd. in 1897 comprised three judges: Lord Justice Lindley, Lord Justice A.L. Smith, and Lord Justice Davey. The case is significant for establishing the principle of separate legal personality for corporations, affirming that a company is distinct from its shareholders.


In Salomon v Salomon and amp Co Ltd 1897 AC 22 how many judges thought Mr Broderip should not be paid on the debenture he had purchased from Mr Salomon and accordingly the judgment of the Court of App?

All except two of them


In salomon v salomon how many judges thought mr broderip should be paid on the debenture he had purchased from mr salomon?

In the case of Salomon v. Salomon & Co. Ltd., the House of Lords held that Mr. Broderip should not be paid on the debenture he had purchased from Mr. Salomon. The decision was unanimous among the judges, with all five Law Lords agreeing that the company was a separate legal entity and that the debenture was void. Therefore, Mr. Broderip's claim was dismissed.


How many judges for federal court sit on each case?

9


How many judges sit on a US Special Court?

One per case


How many judges must hear a case?

At trial, one. On appeal, it depends on the court.


How many members are on the Supreme Court of Tennessee?

There are 12 judges total. (The title "Justice" is reserved for members of the Supreme Court.) There are 4 judges from each grand division of Tennessee. However, only three judges hear each case. The grand division in which each county is located will determine which set of judges hears a particular case. For instance, a case from Hamilton County will be heard in the Eastern Division Court of Appeals and three of the four judges from the Eastern Division will hear that appeal. Likewise, a case from Trousdale County will be heard by three of the four judges from the Middle Division.


How many judges ruled in favor of Linda Brown in the Brown v Board of Education of Topeka case?

All of them A+


How many judges sat on the bench to hear the landmark case of Keshavananda Bharati v State of Kerala in 1973?

9


How many judges usually preside over an appeals case in a appellate court?

In most appellate courts, a panel of three judges typically presides over an appeals case. However, some cases may be heard by a larger panel, such as five or seven judges, especially in significant or complex matters. The specific number can vary depending on the court and the jurisdiction.


How many supreme court judges have hear a case and appeal it?

Most cases are heard by the full Court of nine justices. However, in the even of an emergency, the Court can hear any case with a minimum of 6 judges. If a tie were to happen, the decision would side with what the lower court had decided. As in the case of Plessy v. Ferguson in 1896, when 8 judges were present, ties rarely happen in this situation.


How many judges in the Bible?

There were 12 Judges in the bible.