The law concerning separate legal personality is largely governed by the 19th century case Foss v Harbottle, this case translates the doctrine of separate legal personality, the statutory contract and the principle of the majority rule. In Foss v Harbottle two members of the Victoria park Co brought an action against five directors and promoters alleging that they had misapplied the company's assets and had improperly mortgaged it property. The plaintiffs wanted to claim any …
showed first 75 words of 1725 total

showed last 75 words of 1725 total
…the company's are protected by the judgment made in Foss v Harbottle there are certain exceptions which protect the interests if minority shareholders. References: 1)<Tab/>Company law; second edition; John Lowry and Alan Dignam. Chapter 8, 9, 10 , 12. 2)<Tab/>Lecture notes. 3)<Tab/>Internet source http://www.cambridge.org/uk/catalogue/catalogue.asp?isbn=0521791065 4)<Tab/>Warwick E resources. Lexis/nexis law data base.