CASE STUDY USA, UK AND GERMANY JURISDICTIONS
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INTRODUCTION
The purpose of doing this case study is to explain the application of corporate veil in the corporate legal environment. It is one of the controversial areas. The concept of corporate veil is applicable to the public companies which says that the legal person is different from its company. There are many considerations which are regarded while determining the factors whether the Court can lift up the corporate veil. Solomon vs. Solomon is a famous case for determining the case for lifting up the corporate veil. Nowadays the above principle is used when there is unjust to the …show more content…
Every individuals or employees has the rights and responsibilities which they have to follow. The doctrine of piercing the corporate veil or lifting the corporate veil applies where the person is an under legal obligation or liability which he deliberately evades . The court will look after the company records and will see if there is any injustice happening to the third party or not. According to it, they will impose fines and penalties on the parties . The agency will do the investigation of all the aspects of the relationship between the parties …show more content…
The Common law system is a system which is generally in the countries which were British colonies or protectorates, including the united states. They got the common law when they were the colonies of the British empire. Now many countries are following this system.
Feature of the Common law system:
Decisions of the higher courts are binding on the lower courts-the decision can be changed only by same jurisdictions court or parliament.
Less freedom to lower courts for decisions.
A common law system is compared to be better then the civil law system in many aspects. In the civil law, there is more freedom for the contract and amendments can be done for the protections of the citizen. Parliament has the power to make rules or doing changes in the act or statutes if it is necessary. There are judicial tribunals setup in the country for the settlement of the disputes or for punishing anyone according to the law. Many countries are following this common law system.
Civil law system
Civil law is the law which has its origin from the roman law as codified in the Corpus Juris Civile of Justinian. After that it developed in the Continental Europe and around the
17102410
WORD COUNT=
INTRODUCTION
The purpose of doing this case study is to explain the application of corporate veil in the corporate legal environment. It is one of the controversial areas. The concept of corporate veil is applicable to the public companies which says that the legal person is different from its company. There are many considerations which are regarded while determining the factors whether the Court can lift up the corporate veil. Solomon vs. Solomon is a famous case for determining the case for lifting up the corporate veil. Nowadays the above principle is used when there is unjust to the …show more content…
Every individuals or employees has the rights and responsibilities which they have to follow. The doctrine of piercing the corporate veil or lifting the corporate veil applies where the person is an under legal obligation or liability which he deliberately evades . The court will look after the company records and will see if there is any injustice happening to the third party or not. According to it, they will impose fines and penalties on the parties . The agency will do the investigation of all the aspects of the relationship between the parties …show more content…
The Common law system is a system which is generally in the countries which were British colonies or protectorates, including the united states. They got the common law when they were the colonies of the British empire. Now many countries are following this system.
Feature of the Common law system:
Decisions of the higher courts are binding on the lower courts-the decision can be changed only by same jurisdictions court or parliament.
Less freedom to lower courts for decisions.
A common law system is compared to be better then the civil law system in many aspects. In the civil law, there is more freedom for the contract and amendments can be done for the protections of the citizen. Parliament has the power to make rules or doing changes in the act or statutes if it is necessary. There are judicial tribunals setup in the country for the settlement of the disputes or for punishing anyone according to the law. Many countries are following this common law system.
Civil law system
Civil law is the law which has its origin from the roman law as codified in the Corpus Juris Civile of Justinian. After that it developed in the Continental Europe and around the