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Jurisprudence - 2 (CBSE (UGC) NET)
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Salomon v. Salomon and Co Ltd is a case on
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A
corporate personality
💡 Explanation:
Salomon v Salomon and Co Ltd is a landmark UK company law case. The effect of the Lords' unanimous ruling was to uphold firmly the doctrine of corporate personality, as set out in the Companies Act, 1862. Creditors of an insolvent company could not sue the company's shareholders to pay up outstanding debts.