Is by Mr Aron Salomon made leather boots and shoes in a large Whitechapel High Street establishment. He ran his business for 30 years and "he might fairly have counted upon retiring with at least £10,000 in his pocket.
Court held that salomon was liable to pay the unsecured creditors because the business had been started up by him. salomon appeared in the house of lords and it was held that salomon was merely an...
BRIEFLY: The decision was rendered that a corporation is a unique legal "entity" in its' own right, and is not the same, nor does it assume the aura or the persona of its owners or officers.
in this case the court held that the company has a distinct legal personality which is different from its members its irrelevant that the members are related or not but once the company is...