Articles
The civil litigation landscape prior to the introduction of the Civil Procedure Rules (CPR) in 1999.
By City Law Tutors
Foreword
This paper looks at the fundamental differences between the ‘old’ system and the ‘new’. In addition, it critically evaluates the impact of the introduction of the Civil Procedure Rules (“CPR”) 1998 in respect of the risk and cost to both litigants and lawyers under the new regime.
Introduction
The first part of this paper compares the fundamental differences between the old and the new civil justice system. In conducting a comparison it asks why the reform was necessary. The way it does this is through an analysis of the old system thus highlighting its shortcomings. This paper highlights excessive cost, delay and complexity as the defects that were seen as impairing the old system. This paper then proceeds by presenting the new civil procedure system....(Read More)
The Nature of the Share in Registered Companies
By City Law Tutors
Introduction
This paper will look at the specific qualities of a share, not the different qualities of a type of share generically. Moreover, this paper develops it arguments by arguing that the term share is something of a misnomer. The term share denotes some sort of apportionment i.e. a division of something owned. However it will be argued, a company share does not really equate to a share as used in everyday language, more correctly it is something of an interest.
It will be argued the notion of a share serves distinct functions. Firstly the share is a fraction of the company’s capital, it represents the shareholder’s “financial stake” in the company while defining his liability to the company. Second the share represents a calculation of the shareholder interest in the “association” of the company. Lastly it will be argued that the share is a “species of property” in its own right, a rather multifaceted bundle of rights: a “chose in action”, which the shareholder can buy, sell, mortgage and bequeath. (Read More)
To Strictly Maintain the Salomon Principle or Not: That is the question?
By City Law Tutors
Introduction
The purpose of this paper is to discuss the apparent failure by the courts to maintain the principle that the company is a separate legal entity, which was established in the case of Salomon v A Salomon & Co Ltd. In the light of the formalistic approach taken towards the Companies Act by the House of Lords in Salomon, it would seem particularly difficult to pierce the strict legal rule of the separate legal entity of the company. However, in the absence of any statutory regulations it has been the role of the courts to deviate from the legal fiction.
Firstly, this paper will examine the case of Salomon v Salomon to determine the exact nature and importance of the Salomon principle of separateness often referred to as the ‘veil of incorporation’. Secondly, this paper will examine how when limited liability is coupled with the Salomon principle a company may be used as a vehicle for fraud. Thereafter, this paper will briefly introduce some of the mechanisms, which are in place to prevent an abuse of the corporate form. (Read More)
