2006, ISBN: dfed33b45571705a723a2ed46ecfd134

Seminar paper from the year 2006 in the subject Law - Civil / Private / Trade / Anti Trust Law / Business Law, grade: A (1,0), New York University School of Law, language: English, abstra… Meer...

Seminar paper from the year 2006 in the subject Law - Civil / Private / Trade / Anti Trust Law / Business Law, grade: A (1,0), New York University School of Law, language: English, abstract: Corporate law aims at protecting shareholders from being subject to personal liability for the risks of conducting business. The state created a corporate fiction which is a separate legal entity and distinctive from the shareholders and which offers the primary advantage of limited share-holder liability. The underlying notion is to encourage shareholders to provide capital and take on risky investments. In this way, the risk is shifted towards third parties and costs are external-ized. Overall, this investor attitude encourages economic development. Hence, limited liability can be seen as the "cornerstone of capitalism". However, as moral hazard comes into play, the externalization costs might exceed the benefits and, thus, damage third parties. In order to pro-mote justice, the presumption of limited liability must be occasionally rebutted and personal li-ability imposed on shareholders. This concept known as piercing the corporate veil will be elabo-rated on in detail in this paper. The doctrine is of crucial importance since it is the most litigated issue in corporate law. Regrettably, it is also among the most confusing areas of law. "'Pierc-ing' seems to happen freakishly. Like lightening, it is rare, severe, and unprincipled."The objective of this paper is to lift the confusion of the doctrine and answer the question whether piercing the corporate veil is a sound concept. Moreover, it will be analyzed whether it is the pre-vailing alternative in dealing with the moral hazard problem of limited liability. Therefore, Part I will start with an explanation of piercing and the historical development of the doctrine. Competing doctrines of piercing will be presented and form the basis for the subsequent analysis of the main Bücher & Hörbücher<

ISBN: dfed33b45571705a723a2ed46ecfd134

Company law is a complex and fascinating area of law. The attributes of separate legal personality and limited liability of a company makes it a preferable medium to engage in business, f… Meer...

Company law is a complex and fascinating area of law. The attributes of separate legal personality and limited liability of a company makes it a preferable medium to engage in business, for it provides protection to the individual share holders from the reach of outsiders. Nonetheless, the protection is not meant to justify the use of the company's separate legal personality and limited liability for illegitimate and unlawful purposes, in which case the protective veil will be pierced and individual members will be held liable. Even though the principle of piercing the corporate veil got its origin in the common law legal system, the author examines the legal as well as the judicial recognition of the principle in the Ethiopian legal system. His book thus explores the possible grounds by which the veil of the company may be pierced under the Ethiopian company law, and the role of the Ethiopia courts in applying the principle. Bücher & Hörbücher<

ISBN: dfed33b45571705a723a2ed46ecfd134

High Quality Content by WIKIPEDIA articles! Piercing the corporate veil describes a legal decision to treat the rights or duties of a corporation as the rights or liabilities of its share… Meer...

High Quality Content by WIKIPEDIA articles! Piercing the corporate veil describes a legal decision to treat the rights or duties of a corporation as the rights or liabilities of its shareholders or directors. Usually a corporation is treated as a separate legal person, which is solely responsible for the debts it incurs and the sole beneficiary of the credit it is owed. Common law countries usually uphold this principle of separate personhood, but in exceptional situations may "pierce" or "lift" the corporate veil. A simple example would be where a businessman has left his job as a director and has signed a contract to not compete with the company he has just left for a period of time. If he set up a company which competed with his former company, technically it would be the company and not the person competing. Bücher & Hörbücher<

ISBN: dfed33b45571705a723a2ed46ecfd134

Piercing the Corporate Veil ab 15.99 € als epub eBook: A Sound Concept. 1. Auflage. Aus dem Bereich: eBooks, Fachthemen & Wissenschaft, Recht, Medien > Bücher, Piercing the Corporate Veil… Meer...

Piercing the Corporate Veil ab 15.99 € als epub eBook: A Sound Concept. 1. Auflage. Aus dem Bereich: eBooks, Fachthemen & Wissenschaft, Recht, Medien > Bücher, Piercing the Corporate Veil - eBook als epub von Michala Rudorfer - GRIN Verlag - 9783640383818<

ISBN: dfed33b45571705a723a2ed46ecfd134

Piercing the Corporate Veil ab 12.99 € als epub eBook: A Sound Concept. 1. Auflage. Aus dem Bereich: eBooks, Fachthemen & Wissenschaft, Recht, Medien > Bücher, Piercing the Corporate Veil… Meer...

Piercing the Corporate Veil ab 12.99 € als epub eBook: A Sound Concept. 1. Auflage. Aus dem Bereich: eBooks, Fachthemen & Wissenschaft, Recht, Medien > Bücher, Piercing the Corporate Veil - eBook als epub von Michala Rudorfer - GRIN Verlag - 9783640383818<