Corporate Personality – NBC Institute

BL – Nov 2020 – L1 – SA – Q4 – Company Law

Objective question testing knowledge on instances where a court may disregard corporate personality.

Question

4. A situation in which the court would disregard the distinction between the personalities of a company and its members is
A. Subrogation
B. Alienation
C. Lifting the veil of incorporation
D. Disregarding the law
E. The rule in Foss vs. Habbotle

Answer

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Tags: Company Law, Corporate Personality, Legal Principles, Veil of Incorporation
Level: Level 1

Topic: Company Law
Series: NOV 2020

BL – Nov 2014 – L1 – SB – Q4c – Sale of Goods

Explain two conditions for lifting the corporate veil and two duties of a seller in a sale of goods contract.

Question

i. Upon incorporation, a company enjoys a corporate personality, separate from its owners.
Required:
Explain any TWO conditions under which the veil of incorporation of a company may be lifted.
(5 Marks)

ii. Parties to a sale of goods transaction owe certain duties under the law.
Required:
Explain any TWO duties of a seller in a sale of goods contract.
(5 Marks)

Answer

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Tags: Corporate Personality, Sale of Goods, Seller’s Duties, Veil of Incorporation
Level: Level 1

Topic: Sale of Goods
Series: NOV 2014

BL – Nov 2014 – L1 – SA – Q3 – Company Law

Identifying the correct legal status of a company in law

Question

A company is regarded in law as
A. Corporate aggregate
B. Corporate personality
C. Corporate trustee
D. Corporate proprietorship
E. Corporate municipality

Answer

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Tags: Company Law, Corporate Personality, Legal Entities
Level: Level 1

Topic: Company Law
Series: NOV 2014

BL – May 2022 – L1 – SA – Q5 – Company Law

Identify the principle established in the Salomon vs Salomon case.

Question

The case of Salomon vs Salomon is an authority for the principle of
A. Majority rule and minority right protection
B. Indoor management rule
C. Ultra vires doctrine
D. Corporate personality
E. The rule in Turquand

Answer

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Tags: Company Law, Corporate Personality, Salomon vs Salomon
Level: Level 1

Topic: Company Law
Series: MAY 2022

BL – May 2021 – L1 – SB – Q2b – Company Law

Explanation of creditor claims against a majority shareholder when a company is insolvent.

Question

Adigwe and his two sons caused Adigwe and Sons Limited to be incorporated and became the first directors of the company. The company traded profitably for five years after it was incorporated, but it is about to be wound up because it owes trade creditors a huge amount of money. Adigwe holds 95% of the issued shares of the company while each of his two sons holds 2½%. The creditors of Adigwe and Sons Limited have discovered that the assets of the company are insufficient to satisfy their claims and have filed an action to recover the money from Adigwe who holds most of the shares of the company.
Required:
Explain to the creditors of Adigwe and Sons Limited their chance of succeeding in their claim against Adigwe.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Company Law, Corporate Personality, Creditor Claims, Insolvency
Level: Level 1

Topic: Company Law
Series: MAY 2021

BL – Nov 2020 – L1 – SA – Q4 – Company Law

Objective question testing knowledge on instances where a court may disregard corporate personality.

Question

Answer

Find Related Questions by Tags, levels, etc.

Tags: Company Law, Corporate Personality, Legal Principles, Veil of Incorporation
Level: Level 1

Topic: Company Law
Series: NOV 2020

BL – Nov 2014 – L1 – SB – Q4c – Sale of Goods

Explain two conditions for lifting the corporate veil and two duties of a seller in a sale of goods contract.

Question

ii. Parties to a sale of goods transaction owe certain duties under the law.
Required:
Explain any TWO duties of a seller in a sale of goods contract.
(5 Marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Corporate Personality, Sale of Goods, Seller’s Duties, Veil of Incorporation
Level: Level 1

Topic: Sale of Goods
Series: NOV 2014

BL – Nov 2014 – L1 – SA – Q3 – Company Law

Identifying the correct legal status of a company in law

Question

A company is regarded in law as
A. Corporate aggregate
B. Corporate personality
C. Corporate trustee
D. Corporate proprietorship
E. Corporate municipality

Answer

Find Related Questions by Tags, levels, etc.

Tags: Company Law, Corporate Personality, Legal Entities
Level: Level 1

Topic: Company Law
Series: NOV 2014

BL – May 2022 – L1 – SA – Q5 – Company Law

Identify the principle established in the Salomon vs Salomon case.

Question

Answer

Find Related Questions by Tags, levels, etc.

Tags: Company Law, Corporate Personality, Salomon vs Salomon
Level: Level 1

Topic: Company Law
Series: MAY 2022

BL – May 2021 – L1 – SB – Q2b – Company Law

Explanation of creditor claims against a majority shareholder when a company is insolvent.

Question

Answer

Find Related Questions by Tags, levels, etc.

Tags: Company Law, Corporate Personality, Creditor Claims, Insolvency
Level: Level 1

Topic: Company Law
Series: MAY 2021

Question Tag: Corporate Personality

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BL – Nov 2020 – L1 – SA – Q4 – Company Law

Objective question testing knowledge on instances where a court may disregard corporate personality.

BL – Nov 2014 – L1 – SB – Q4c – Sale of Goods

Explain two conditions for lifting the corporate veil and two duties of a seller in a sale of goods contract.

BL – Nov 2014 – L1 – SA – Q3 – Company Law

Identifying the correct legal status of a company in law

BL – May 2022 – L1 – SA – Q5 – Company Law

Identify the principle established in the Salomon vs Salomon case.

BL – May 2021 – L1 – SB – Q2b – Company Law

Explanation of creditor claims against a majority shareholder when a company is insolvent.

BL – Nov 2020 – L1 – SA – Q4 – Company Law

Objective question testing knowledge on instances where a court may disregard corporate personality.

BL – Nov 2014 – L1 – SB – Q4c – Sale of Goods

Explain two conditions for lifting the corporate veil and two duties of a seller in a sale of goods contract.

BL – Nov 2014 – L1 – SA – Q3 – Company Law

Identifying the correct legal status of a company in law

BL – May 2022 – L1 – SA – Q5 – Company Law

Identify the principle established in the Salomon vs Salomon case.

BL – May 2021 – L1 – SB – Q2b – Company Law

Explanation of creditor claims against a majority shareholder when a company is insolvent.

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BL – Nov 2020 – L1 – SA – Q4 – Company Law

Objective question testing knowledge on instances where a court may disregard corporate personality.

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BL – Nov 2014 – L1 – SB – Q4c – Sale of Goods

Explain two conditions for lifting the corporate veil and two duties of a seller in a sale of goods contract.

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BL – Nov 2014 – L1 – SA – Q3 – Company Law

Identifying the correct legal status of a company in law

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BL – May 2022 – L1 – SA – Q5 – Company Law

Identify the principle established in the Salomon vs Salomon case.

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BL – May 2021 – L1 – SB – Q2b – Company Law

Explanation of creditor claims against a majority shareholder when a company is insolvent.

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BL – Nov 2020 – L1 – SA – Q4 – Company Law

Objective question testing knowledge on instances where a court may disregard corporate personality.

You're reporting an error for "BL – Nov 2020 – L1 – SA – Q4 – Company Law"

BL – Nov 2014 – L1 – SB – Q4c – Sale of Goods

Explain two conditions for lifting the corporate veil and two duties of a seller in a sale of goods contract.

You're reporting an error for "BL – Nov 2014 – L1 – SB – Q4c – Sale of Goods"

BL – Nov 2014 – L1 – SA – Q3 – Company Law

Identifying the correct legal status of a company in law

You're reporting an error for "BL – Nov 2014 – L1 – SA – Q3 – Company Law"

BL – May 2022 – L1 – SA – Q5 – Company Law

Identify the principle established in the Salomon vs Salomon case.

You're reporting an error for "BL – May 2022 – L1 – SA – Q5 – Company Law"

BL – May 2021 – L1 – SB – Q2b – Company Law

Explanation of creditor claims against a majority shareholder when a company is insolvent.

You're reporting an error for "BL – May 2021 – L1 – SB – Q2b – Company Law"

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