A DESCRIPTIVE STUDY OF DOCTRINES UNDER LAW OF CONTRACT

Abstract

Legally, a corporation is an autonomous legal entity with its members [Salmon v. Salmon
and Co. A.C 22], Ltd. (1897). It is known as the "Veil of Integration." This definition is widely
accepted as binding by courts. In this theory, the organization and its leaders have a fictitious
cover. This is why the corporation seems to have a distinct personality of its members. However,
in some cases , the court will perforate the case law and disregard the corporate veil in order to
meet the individual behind the veil or to expose the true shape and essence of the undertaking in
question. This article analyzes the principle "Veil of corporations," then discusses the phrase
"Lifting the Corporate Veil" and then, with the aid of many examples, points out both the legal
and legislative provisions for Lifting its Legal Veil.