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Salomon v. A Salomon & Co. Ltd  AC 22 is the most important decision ever made by the English courts in Relation to company law.
The first 200 words of this essay...
Name: JI KE Department: International Finance College
Beijing Normal University
Faculty of Business, School of Law
Lecturer: Mr. John Tribe, Kingston University
Commercial Law Assignment Due Date: Dec 10
A: Salomon v. A Salomon & Co. Ltd  AC 22 is the most important decision ever made by the English courts in Relation to company law.
The fundamental concept to become familiar with when commencing a business is the idea that the business has a legal personality in its own right, particularly when it assumes the form of a Close Corporation, or a Limited Liability Company. This essentially means that if one commences business as a Close Corporation, or as a Limited Liability Company, then the Corporation or Company is a legal entity with distinct legal personality separate to that of the owners, members, or shareholders.(2)
As a separate entity, the company is distinct from the directors, employees and shareholders. And the distinction has been rightly insisted by the law that it should be duly observed: Lee v Lee's Air Farming Ltd  AC 12. "In particular the company does
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