Question: Discuss corporate personality and limited liability.
Answer: While that legal system imposes obligation on the legal person it confers rights. In essence humanity is a state of nature and legal personality is an artificial construct which may or may not be conferred. A logical extension of this separation of humanity from legal personality is that groups of humans who are engaged in a common activity could attempt to simplify their joint activity by gaining legal personality for the venture. This is the origin of the corporation. The conferring of legal personality was necessarily tied directly to a concession from the crown, in the form of a charter or grant, incorporating (from the Latin ‘Corpus’ meaning body, so literally meaning to ‘create a body’) the order. The use of the word ‘member’ emphasizes that not only do members provide......(short extract)
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Details: - Mark: 65% | Course: Company Law | Year: 1st | Words: 1913 | References: No | Date written: Not available | Date submitted: May 02, 2013 | Coursework ID: 785
