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I- The Veil Doctrine in Company Law

1.1: Introduction

A corporation under Company law or corporate law is specifically referred to as a “legal person�- as a subject of rights and duties that is capable of owning real property, entering into contracts, and having the ability to sue and be sued in its own name.[1] In other words, a corporation is a juristic person that in most instances is legally treated as a person, and empowered with he attributes to own its own property, execute contracts, as well as ability to sue and be sued.

One of the main motivations for forming a corporation or company is the limited liability it offers its shareholders. By this doctrine (limited liability), a shareholder can only lose only what he or she has contributed as shares to the corporate entity and nothing more.

Nevertheless, there is a major exception to the general concept of limited liability. There are certain circumstances in which courts will have to look through the......

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Approximate Word Count: 6589
Approximate Pages: 27 (250 words per double-spaced page)

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