Management and Organizational Studies 2276A/B Final: Business Law II - 2776 – Final Exam Notes (On Cases)

282 views16 pages

Document Summary

Lockharts ltd. v. excalibur holdings ltd. et al. (176) Clear principle from salomon v. salomon & co. ltd. , that a company is an independent legal entity. Plaintiffs ask judge to life the corporate veil on the grounds of fraud. Judge (davison, j. ) references jones v. lipman: lipman entered agreement to sell parcel of land with jones, but then transferred the land to a company which he and a clerk at the office were the sole shareholders of. Judge ordered both of them to preform the agreement with the plaintiff. Courts will disregard the corporate entity in certain circumstances including situations involving fraud of improper conduct . Dickson, c. j. in jodrey"s estate v. prov. Of ns: generally speaking in the absence of fraud or improper conduct the courts cannot disregard the separate existence of a corporate entity . One man corporations should be considered as separate entities from their major shareholder save for certain exceptional cases: ie.

Get access

Grade+20% off
$8 USD/m$10 USD/m
Billed $96 USD annually
Grade+
Homework Help
Study Guides
Textbook Solutions
Class Notes
Textbook Notes
Booster Class
40 Verified Answers

Related Documents

Related Questions