ASSIGNMENT QUESTION:
"The recognition that a corporation is a separate legal entity in its own right is the foundation of modern corporate law"
Your answer must include a discussion of the following:
- Explain the Salomon v A Salomon And Co Ltd [1897] AC 22 case. How is this case incorporated in the Corporations Act 2001 (Cth)?
- Discuss the legal basis of the statement using a corporate entity as an example
- Explain the future of the legal principle detailed in Salomon's case and whether you think changes are necessary in the current law