Question

a fundamental attribute of corporate personality is that a company is a legal entity distinct from its members . Discuss with the relevant case laws

Answer 1

Answer:

Corporate personality is the fact stated by the law that a company is recognized as a legal entity distinct from its members. A company with such personality is an independent legal existence separate from its shareholders, directors, officers and creators. This is famously known as the veil of incorporation.

Answer 2

Answer:

Corporate personality is the fact stated by the law that a company is recognised as a legal entity distinct from its members. A company with such personality is an independent legal existence separate from its shareholders, directors, officers and creators. This is famously known as the veil of incorporation.

As a result of corporate personality, a company has perpetual succession. It simply means the company is everlasting and will continue to do business until it is properly wound up.