QUESTION:
"Companies are said to be an artificial legal person."
Your answer must include a discussion of the following:
- Discuss the legal basis of the statement
- Explain the Salomon v A Salomon And Co Ltd [1897] AC 22 case. How is this case incorporated in the Corporations Act 2001 (Cth)?
- The future of company law (e.g. do think this view will change?)
- Whether you think changes are necessary in the current law