Corporations Law Research Essay Example | Topics and Well Written Essays - 2750 words

Corporations Law Research - render Exampleself.1 Corporate self interest has placed the generation of wins and protection of that profit from creditors on a plane far higher than the obligation to function in a moral, estimable manner, deserving of the status of personhood granted to it under the law.Korten D has pointed out how the corporation evolved as a gist to limit the liabilities of individual investors to the extent of their investments while also imposing obligations to transfer a share of its pay to the crown.1a What has emerged however, is a system whereby every corporation strives to expand its own interests while limiting its obligations. The incarnate fog has been zealously guarded thus far, since the facility of limited liability available to a corporation has been deemed thorough in the propagation of a capitalist economy2. However, Adam Smith underlined the restriction of competition that corporations symbolize3. The strengthening of corporate interests afte r the Civil War in America led President Lincoln to foresee corporate greed as followsHowever the turning point for corporations appeared with the decision in the case of Santa Clara County v grey pacific Railroad5 in which the corporation was declared to be a natural person under the U.S. reputation entitled to the protection offered by the Bill of Rights. By placing them on par with individual citizens in permitting their incline upon Government, the powers of the Corporations to influence legislation was therefore unequally balanced against individual powers.6The case of Solomon v Salomon & Co Ltd7 open up the corporation as a distinct legal entity in common law, with an existence and personality intermit from the people that comprise it. This has provided the facility for small agencies and businesses to assume a corporate form functioning as a front that shields the agency/individuals from creditors rather than being purely directed towards raising capital for dotty busin ess purposes7a. The