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Theory of corporate personality

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1. The court will not allow the theory of corporate personality to be used as a means of fraud or sharp practice - the judge has the power to 'draw aside the corporate veil'.

Explain what happens when the court does draw aside the veil and describe a situation in which the court has exercised its  power.

2. A and B are partners in an ordinary partnership. The firm is insolvent. Joe, a creditor, has successfully sued A for a debt of £2,000. What rights, if any, has A against B?

3. A, B, C and D wish to form a partnership in which all of them will be limited partners. Advise them.

4. What is the maximum number of employees allowed to a company which wishes to qualify as a 'small' company?

Reference no: EM13969441

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