Match List I with List II LIST ILIST II A. Salomon v. Salomon I. Doctrine of Indoor Management B. Lee…
Salomon v. Salomon (1897) established separate corporate personality, the foundation for lifting of the corporate veil; Lee v. Neuchatel Asphalte (1889) held that a company…
Choose your answer
Match List I with List II
| LIST I | LIST II |
|---|---|
| A. Salomon v. Salomon | I. Doctrine of Indoor Management |
| B. Lee v. Neuchatel Asphalt | II. Reserve Fund |
| C. Royal British Bank v. Turquand | III. Majority Rights |
| D. Foss v. Harbottle | IV. Lifting of Corporate Veil |
Answer and explanation
Correct answer C
Salomon v. Salomon (1897) established separate corporate personality, the foundation for lifting of the corporate veil; Lee v. Neuchatel Asphalte (1889) held that a company need not set aside a reserve fund or make good lost capital before paying dividends; Royal British Bank v. Turquand (1856) laid down the doctrine of indoor management; and Foss v. Harbottle (1843) the majority rule, so the correct matching is "A-IV, B-II, C-I, D-III".
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