Laws On Leg
The 1862 Act created limited liability corporations as authorized individuals separate and distinct from the shareholders. The act of piercing the corporate veil till now remains one of the controversial subjects in corporate law, and it would proceed to stay so, even for the years to come back. By and huge, as discussed in the essay, the doctrine of piercing the company veil stays solely an exceptional act orchestrated by courts of law. Courts are most prepared to respect the rule of corporate personality, that an organization is a separate authorized entity from it’s shareholders, having it’ personal rights and duties, and might sue and be sued in it’s own name. Previously, he spent a decade as a senior government and general counsel of a privately held worldwide advertising know-how company.
A common seal is used with the name of the corporate engraved on it in its … Read More