EFFECTS OF INCORPORATION AND LIFTING CORPORATE VEIL

Front

Concept of separate legal entity:

Back

A company can hold land.

Front

Legal recognition of a company is provided by section 16 of the Companies Act 2016.

Back

FALSE

Front

Body corporate refers to a company that can exercise all functions of an incorporated body.

Back

TRUE

Front

A body corporate can sue and be sued.

Back

TRUE

Front

A corporation is a body corporate.

Back

TRUE

Front

First recognition of body corporate: Salomon v Salomon & Co. Ltd.

Back

TRUE

Front

Proper plaintiff rule established in Lee v Lee’s Air Farming Ltd?

Back

FALSE

Front

Perpetual succession indicates that a company's existence is not tied to its shareholders' lives.

Back

FALSE

Front

Can a company be ended by deregistration?

Back

TRUE

Front

Effect of Syed and Sharipah selling their shares in S&S Corporation?

Back

S&S Corporation still exists.