Business Law Essay Example | Topics and Well Written Essays - 1500 words - 20

Business Law - Essay Exampleited dep force outing on the liability of the shargonholders and tete-a-tete or public depending on whether they are prohibited to issue shares to the public or not. According to the vexation and company laws, incorporated companies are levelheaded persons and thus they have corporate personalityThis piece of research paper is an attempt to explain and evaluate the concept of corporate personality. Based on legal cases, this paper examines how courts responds to the specific cases of corporate personality and analyze the courts attitude to this part of the law.In legal perspectives, a corporate person is an tie-up like a note firm, a educational or religious institution, which has been incorporated in order to become a corporate person in law, with certain rights, duties, obligations and privileges that can be subjects matters of legal dispute (Corporate Personality). Members and the corporation or business entity is legally different and therefore t he rights and liabilities of the corporate person are never similar with that of its owners or members. For instance, when the managing director or all of the managers resign from their duties without assigning the duties to new successors, the business and its trading dont come to an end and it will still be legally a corporate body.When a business is registered as a company under the Company Registration Act, the business becomes an entity in its own rights, with legal boundaries of responsibilities, rights and duties that are entirely different from those of its members. In the modern system of company registration, the incorporated company turns to be a business with separate legal entity, and this outcome is referred as corporate personality (Talbot, p. 23).The company incorporated under the Companies Act has been established as a distinct entity by the House of Lords decision. The concept that a non-human entity could be treated as the subject of rights and duties in