By Lorraine Talbot
Multi-disciplinary in process, this comprehensiveВ volume examines English corporation legislations from either a socio-legal and black letter perspective.
Using a contextual and demanding framework; drawing at the impact of yank legislation and felony scholarship and a case research of mutual construction societiesвЂ™ march to the marketplace and company identification, this booklet argues that sleek corporation legislation is formed by means of economics, ideology and current legislation and that the kingdom of the legislation at anybody time is dependent upon the regularly transferring dynamic among them.
Scrutinizing the firms Act 2006 in-detail and tracing the background of the basic ideas of corporation legislations, Talbot explores:
- the doctrine of separate company personality
- directorsвЂ™ duties
- minority safety and the doctrine of ultra vires.
Invigorating this a lot studied zone; uncovering the social elements that proceed to notify it and the political nature of the legislations itself, this textbook is a useful source for all these learning corporation law.
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Extra info for Critical Company Law
On appeal, the court held that once a company was insolvent the interests of the creditors overrode the interests of the shareholders. Therefore the transfer was against the interests of the company (as the assets eﬀectively belonged to creditors in insolvency), because it was against the interests of the creditors. Thus it could be argued that in circumstances of ﬁnancial constraints, a director’s duty to act in the interests of the company is a duty to act in the interest of creditors, rather than shareholders.
In modern company law registration as an incorporated company bequeaths a company with a separate legal personality; the business becomes a legal entity. This outcome is referred to as the doctrine of separate corporate personality. This doctrine is overwhelmingly important in Anglo-American corporate law and one which the judiciary will defend against huge social pressures. 1 In this case a former slave and later major commanding the Virginia Sixth Negro Regiment, Joseph B Johnson, bought land which was subject to a number of covenants restricting transfer to ‘colored persons’.
The company was liable, as John Lennard was the directing mind of company. Similarly, in HL Bolton (Engineering) Ltd v TJ Graham & Sons Ltd 29 the directors claimed that the company could not have given notice on the termination of a lease because they had not met for their annual meeting. However, the court held that if the day-to-day management was left to the managers, then the will of the managers represented the will of the company. This case is popularly cited, largely because of Lord Denning’s colourful description of the body corporate, of which he says: 27 Ibid, p 1254.