Lifting the veil under case law, Business Law and Ethics

Assignment Help:

Lifting the veil under Case Law:

                 Numerous English cases have been variously classified by English writers as instances of "lifting the veil of  incorporation". A few of these cases are summarised  below. But it should be noted that the particular judges were merely ascertaining the facts of the case before  them and making the appropriate decision rather than  consciously or deliberately "lifting the veil of incorporation". It is the writers who have categorised the said cases as instances of lifting the veil because the decisions in those cases appeared to them to be a  modification of the principle in Salomon's case. These cases may be explained under the following headings.

Agency:

One of the ratio decidendi in Salomon's case was stated by Lord Macnaghten that "the company is not in law the agent of the subscribers". This proposition was affirmed by the English Court of Appeal and extended to associated companies in Ebbw Vale Urban District Council v South  Wales Traffic Area Licensing Authority when Lord Cohen stated:

"Under the ordinary rules of law, a parent company and  a subsidiary company, even a 100% subsidiary company, are  distinct legal entities, and in the absence of an agency  contract between the two companies, one cannot be said  to be the agent of the other. That seems to me to be  clearly established by Salomon v Salomon & Co Ltd (3).


Related Discussions:- Lifting the veil under case law

State article 6 of air and outer space law, State Article 6 of air and oute...

State Article 6 of air and outer space law Article 6 states that no scheduled international air service may be operated over or into the territory of a contracting State, excep

Best arguments to support the objections - law, Dennis and his brother, Oti...

Dennis and his brother, Otis, are charged with murdering Johnson. Eyewitnesses had seen the two defendants fighting with the victim outside a bar after midnight. Shortly afterwards

Probabilities for various ratios, I am an executive being transferred from ...

I am an executive being transferred from my home city on the west coast to one in the Midwest. I know nothing about the city I'm moving to, but I have to buy a house there. Realtor

Determine the term - games nations play, Games nations play Game analog...

Games nations play Game analogy can be used to get the idea because the principal players, states reject any higher authority. Each state, take any player in a competitive game

Explain the principles of effective financial regulations, Question 1: ...

Question 1: a) Explain the four principles of effective financial regulations. b) Describe briefly the various regulatory tools used to achieve objectives of financ

Write short notes on the litteral rule, QUESTION (i) Write on the healt...

QUESTION (i) Write on the health and safety issues in the hospitality industry (ii) Describe the hierarchy of courts in Mauritius and explain what you understand by the doct

Take-over bid, TAKE-OVER BID:                   If Company A ("the t...

TAKE-OVER BID:                   If Company A ("the transferee company") offers to acquire shares of Company B ("the transferor") and the scheme or contract to which the off

Explain the need for rules in interpreting statutes, Question 1: (a) I...

Question 1: (a) In the Mauritian Legal System, there is a hierarchy of courts. Describe the various courts. (b) State and critically examine the features of the 5 main sour

Strengths and weaknesses of teleological theories, Question: Consider t...

Question: Consider the following formulation of Kant's Categorical Imperative: ‘Act only to that maxim by which you can at the same time will that it should become a universal

What is the predevelopment phase of policy process, What is the Predevelopm...

What is the Predevelopment Phase of policy process a) Get authorization and support Who has the authority to create this type of policy? Who has the authority to approve

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd