The company is at law a different person altogether from those forming the company Custom Essay

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?The company is at law a different person altogether from those forming the company The Company is not in law the agent of the subscribers or trustees for them. Nor are the subscribers as members liable, in any shape or form, except to the extent and in the manner provided by the Act (Per Lord MacNaughten in Salomon v. Salomon [1897] AC 22)

Discuss

Instructions:

?You should use appropriate case law and provisions of the Company Act 2006 wherever applicable in your discussion

?You should also endeavour to conduct independent research and use academic sources in your essay. Remember to acknowledge and reference your sources properly. Use the Harvard System of referencing
. The relevant issues for discussion may include:

? The doctrine of incorporation and the case of Salomon v Salomon
? Discuss the dictum/statement of Lord MacNaughten and express agreement or disagreement with it.
? The relationship between members and their company. Are they agents or trustees of the company?
? The motive of company subscribers: is this relevant in determining corporate liability?
? Is it true to say that subscribers or members are not liable in any shape or form for the company’s liabilities?
? Are there any circumstances in which subscribers/ members of a company might be personally liable for the company’s debt or wrongdoing?

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