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(a) Explain the legal principle(s) established in the case of Salomon vs Salomon Co. Ltd. (1897). (2 Marks)
(b) State FOUR circumstances when the veil of incorporation of a company may be lifted under statute. (4 Marks)
(c) Enumerate FOUR types of names that are prohibited for the purpose of incorporation. (4 Marks)
(d) State FIVE statutory terms of a Partnership Agreement as contained in Sections 24 and 25 of the Partnership Act 1890. (5 Marks)
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Under the common law, the veil of incorporation will NOT be lifted where the company:
A. Has been formed for fraudulent or illegal purposes
B. Operates as an agent of shareholders
C. Trades with alien enemies
D. Engages in acts that are detrimental to public interest
E. Engages in completely ultra vires activities
Find Related Questions by Tags, levels, etc.
Find Related Questions by Tags, levels, etc.
(a) Explain the legal principle(s) established in the case of Salomon vs Salomon Co. Ltd. (1897). (2 Marks)
(b) State FOUR circumstances when the veil of incorporation of a company may be lifted under statute. (4 Marks)
(c) Enumerate FOUR types of names that are prohibited for the purpose of incorporation. (4 Marks)
(d) State FIVE statutory terms of a Partnership Agreement as contained in Sections 24 and 25 of the Partnership Act 1890. (5 Marks)
Find Related Questions by Tags, levels, etc.
Under the common law, the veil of incorporation will NOT be lifted where the company:
A. Has been formed for fraudulent or illegal purposes
B. Operates as an agent of shareholders
C. Trades with alien enemies
D. Engages in acts that are detrimental to public interest
E. Engages in completely ultra vires activities
Find Related Questions by Tags, levels, etc.
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