The Evolution of the Separate Legal Personality Doctrine and Its Exceptions: A Comparative Analysis

32(7) Company Lawyer 194-205 (2011)

21 Pages Posted: 26 May 2019

See all articles by Sneha Mohanty

Sneha Mohanty

affiliation not provided to SSRN

Vrinda Bhandari

Independent

Date Written: 2011

Abstract

This article endeavours to explore issues involving corporate legal personality from a jurisprudential angle by raising questions such as what is being recognised, what legal rights flow from this recognition, and what is the nature of the legal capacity. This requires an understanding of the theories associated with corporations and consequently the need and type of state regulation. By comparing the laws in America, England and India, the article examines when a company's legal personality is ignored and when the veil is lifted or pierced. It is not merely about disregarding the corporate personality, but also about imposing just and reasonable limitations on the exercise of the privilege of independent capacity. The policies behind recognition of a separate existence must be balanced against the policies justifying piercing the veil, and these issues will be dealt with in this article.

Note: "(2011), The Company Lawyer: 37(7), (c), Sweet & Maxwell and Sneha Mohanty and Vrinda Bhandari, available via http://www.westlaw.com".

Keywords: Comparative Law, Corporate Personality, India, Legal History, Legal Personality, United States, Salomon, Separate Legal Personality

JEL Classification: K2

Suggested Citation

Mohanty, Sneha and Bhandari, Vrinda, The Evolution of the Separate Legal Personality Doctrine and Its Exceptions: A Comparative Analysis (2011). 32(7) Company Lawyer 194-205 (2011), Available at SSRN: https://ssrn.com/abstract=3371379 or http://dx.doi.org/10.2139/ssrn.3371379

Sneha Mohanty

affiliation not provided to SSRN

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