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Mrl2601 notes. 100% TRUSTED Answers, guidelines, workings and references.Study unit 1: Legal personality and lifting of the veil Once a company is incorporated, it is a separate legal entity distinct from its members. It can enter into contracts in its own name and sue and be sued. Its members are not liable for its debts and enjoy limited liability. Separate legal personality: Salomon v Salomon & Co Ltd: • The estate of the company is assessed apart from the estates of the individual ...

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