Business, Company and Conveyancing Law
Part B Q. 1 Salomon v Salomon & Co. Ltd. (1897) is a landmark case on the incorporation, features, and nature of companies. The case is important in the formation of businesses in some respects. Firstly, the significance of the case with regards to the formation of companies is that it introduced the principle of a company being a separate, autonomous, distinct or independent entity from the owners or even the promoters of the enterprise. This is important in that it shields the owners from any liability that may be incurred on behalf of the company about its creditors. Further, ...
