Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Related questions
Question
- State the meaning of “principle of separate legal entity” and in what circumstances this principle can be lifted.
Expert Solution
Step 1
The Principle of Separate Legal Existence is a major principle in the field of organizational law. As indicated by this principle, the organization is treated as an element separate from its individuals. The main outcome of fuse is that an organization is viewed personally. It has its own privileges and the rights are not the same as the privileges of its proprietors.
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