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lee was the controlling shareholder having 2999 shares out of 3000 shares of company and was director of a company formed by him. he was also employed by the company. he was killed in the accidents and his wife claimed compensation from the company. but her claim was successful. it was held that lee and the company had separate legal personalities and compensation was payable to lee as an employee.
What else can I help you with?
Where does a corporation gain separate legal entity in the History of American law?
what is a separate legal entity for a corporation?
Is sole proprietorship a legal entity?
Yes, but it is not a separate legal entity, it is not separate from the owner, like a corporation is.
Is a corporation a separate legal entity?
A corporation is an institution recognised a separate legal entity distinct from its members.
A business organized as a separate legal entity owned by stockholders is a partnership true or false?
A business organized as a separate legal entity owned by stockholders is a partnership.
A corporation is a legal entity separate from its owners?
YES!
Is a partnership firm has any legal entity?
No, a partnership firm has no legal entity. Registering the partnership firm means registering the partnership relation. firm has no separate legal entity.
Did James hardy abused separate legal entity?
yes,
Which kind of business is treated as a separate legal entity?
corpation
When is a company not a legal entity?
A company is not considered a legal entity when it has not been formally registered or incorporated according to the laws of its jurisdiction. For example, sole proprietorships and partnerships may not be recognized as separate legal entities, as the owners are personally liable for the company's debts and obligations. Additionally, if a company fails to comply with legal requirements or is dissolved, it may lose its status as a legal entity.
What is entity known as?
An entity is an individual, organization, or object that is considered to be separate and distinct. In business or legal contexts, an entity can refer to a company, corporation, or institution that has its own legal existence.
Difference between accounting entity and legal entity?
The accounting entity suggests that the owners funds are kept separate from the business's, The legal entity however considers them to be the same account when seizing assets for reasons such as debt
Is a consolidated entity an accounting and a legal entity?
A legal entity is normally formed with formal registration (eg commercial registeratin) which is governed by an established law. However a consolidated entity is a REPORTING entity to provide users of financial statements with information about a legal entity (parent company) plus the financials of other entities (with separate legal entities) under their control.
