Lifting the Veil – NBC Institute

BL – Nov 2011 – L1 – SB – Q4 – Company Law

Understanding the principles of the Salomon vs Salomon & Co Ltd case, circumstances for lifting the veil of incorporation, and statutory terms of partnership agreements

Question

(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)

(d) State FIVE statutory terms of a Partnership Agreement as contained in Sections 24 and 25 of the Partnership Act 1890. (5 Marks)

Answer

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Tags: Company Law, Legal Personality, Lifting the Veil, Partnership Agreement
Level: Level 1

Topic: Company Law
Series: NOV 2011

BL – May 2014 – L1 – SA – Q11 – Contract Law

Identifying when the court may lift the veil of incorporation.

Question

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

Answer

Find Related Questions by Tags, levels, etc.

Tags: Corporate Liability, Illegal Purpose, Lifting the Veil
Level: Level 1

Topic: Contract Law
Series: MAY 2014

BL – Nov 2011 – L1 – SB – Q4 – Company Law

Understanding the principles of the Salomon vs Salomon & Co Ltd case, circumstances for lifting the veil of incorporation, and statutory terms of partnership agreements

Question

(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)

(d) State FIVE statutory terms of a Partnership Agreement as contained in Sections 24 and 25 of the Partnership Act 1890. (5 Marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Company Law, Legal Personality, Lifting the Veil, Partnership Agreement
Level: Level 1

Topic: Company Law
Series: NOV 2011

BL – May 2014 – L1 – SA – Q11 – Contract Law

Identifying when the court may lift the veil of incorporation.

Question

Answer

Find Related Questions by Tags, levels, etc.

Tags: Corporate Liability, Illegal Purpose, Lifting the Veil
Level: Level 1

Topic: Contract Law
Series: MAY 2014

Question Tag: Lifting the Veil

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BL – Nov 2011 – L1 – SB – Q4 – Company Law

Understanding the principles of the Salomon vs Salomon & Co Ltd case, circumstances for lifting the veil of incorporation, and statutory terms of partnership agreements

BL – May 2014 – L1 – SA – Q11 – Contract Law

Identifying when the court may lift the veil of incorporation.

BL – Nov 2011 – L1 – SB – Q4 – Company Law

Understanding the principles of the Salomon vs Salomon & Co Ltd case, circumstances for lifting the veil of incorporation, and statutory terms of partnership agreements

BL – May 2014 – L1 – SA – Q11 – Contract Law

Identifying when the court may lift the veil of incorporation.

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BL – Nov 2011 – L1 – SB – Q4 – Company Law

Understanding the principles of the Salomon vs Salomon & Co Ltd case, circumstances for lifting the veil of incorporation, and statutory terms of partnership agreements

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BL – May 2014 – L1 – SA – Q11 – Contract Law

Identifying when the court may lift the veil of incorporation.

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BL – Nov 2011 – L1 – SB – Q4 – Company Law

Understanding the principles of the Salomon vs Salomon & Co Ltd case, circumstances for lifting the veil of incorporation, and statutory terms of partnership agreements

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BL – May 2014 – L1 – SA – Q11 – Contract Law

Identifying when the court may lift the veil of incorporation.

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