Articles under Doctrine Of Corporate Veil

The doctrine of corporate veil is a legal principle that recognizes the separate legal personality of a company from its members. It means that the company is an independent entity that can own property, enter into contracts, sue and be sued in its own name, and is not liable for the debts or obligations of its members.

The doctrine of corporate veil is a legal principle that recognizes the separate legal personality of a company from its members. It means that the company is an independent entity that can own property, enter into contracts, sue and be sued in its own name, and is not liable for the debts or obligations of its members. However, there are certain circumstances where the courts may lift or pierce the corporate veil and look behind the facade of the company to identify the real persons who are in control or responsible for its actions. This is done to prevent fraud, abuse, evasion or injustice that may arise from the misuse of the corporate personality by its members.