Category: Corporate Law
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Salomon v Salomon & Co. Ltd. (1896)
Facts Aron Salomon, a leather merchant, incorporated his business as a limited liability company, Salomon & Co. Ltd., under the Companies Act 1862 (UK). He held 20,001 of the company’s 20,007 shares, with the remaining six shares distributed among his family members to meet the legal requirement of seven shareholders. Salomon sold his business to…
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Understanding Australian corporations law
If you’re diving into the world of business law, one of the areas you’ll encounter is Australian corporations law. This body of law governs how companies operate in Australia, from their formation to their day-to-day management and their dissolution. Corporations law isn’t just a set of rules. For students, understanding corporations law is crucial for…
The Law Classroom 