Full Text Available
Note: Clicking the button above will open the full text document at the original institutional repository in a new window.
The personal liability of directors in terms of section 424 of the Companies Act - does it provide an adequate remedy?
Companies are part of the very fabric of the modern commercial world. Very often business ventures are embarked on by a company rather than by the individual shareholders and investors in their own name. The fundamental attribute of corporate personality, well established since the decision in Salom...
Saved in:
| Main Author: | |
|---|---|
| Format: | Thesis |
| Language: | English |
| Published: |
Department of Commercial Law
2024
|
| Subjects: | |
| Tags: |
No Tags, Be the first to tag this record!
|
| _version_ | 1867613259464441856 |
|---|---|
| access_status_str | Open Access |
| author | Rose-Innes, Leslie Andrew |
| author_browse | Rose-Innes, Leslie Andrew |
| author_facet | Rose-Innes, Leslie Andrew |
| author_sort | Rose-Innes, Leslie Andrew |
| collection | Thesis |
| description | Companies are part of the very fabric of the modern commercial world. Very often business ventures are embarked on by a company rather than by the individual shareholders and investors in their own name. The fundamental attribute of corporate personality, well established since the decision in Salomon v Salomon and Company almost a century ago, is that a company is a legal entity- distinct from its members. The separate legal personality of a company and the limited nature of a shareholder's liability afford a measure of protection against personal liability being incurred by those who invest in a company as a shareholder or who are involved in managing a company as a director. Ordinarily the members and directors of a company will not be liable for the company's debts and liabilities. At times however these characteristics of a separate corporate personality and limited liability provide a shield behind which the unscrupulous seek to hide. It is part of commercial life that the business of some companies is conducted in an unlawful or irresponsible manner. This often results in insolvency and occasions loss to others. In certain circumstances the law provides for personal liability on the part of those responsible for such misconduct. It is necessary that appropriate legal remedies should exist. |
| format | Thesis |
| id | oai:open.uct.ac.za:11427/40616 |
| institution | University of Cape Town (South Africa) |
| language | eng |
| last_indexed | 2026-06-10T12:33:17.409Z |
| license_str | Not specified — see source repository |
| provenance_str_mv | Harvested via OAI-PMH from UCTD — University of Cape Town Open Access Repository |
| publishDate | 2024 |
| publishDateRange | 2024 |
| publishDateSort | 2024 |
| publisher | Department of Commercial Law |
| publisherStr | Department of Commercial Law |
| record_format | dspace |
| source_str | UCTD — University of Cape Town Open Access Repository |
| spelling | oai:open.uct.ac.za:11427/40616 The personal liability of directors in terms of section 424 of the Companies Act - does it provide an adequate remedy? Rose-Innes, Leslie Andrew Commercial Law Companies are part of the very fabric of the modern commercial world. Very often business ventures are embarked on by a company rather than by the individual shareholders and investors in their own name. The fundamental attribute of corporate personality, well established since the decision in Salomon v Salomon and Company almost a century ago, is that a company is a legal entity- distinct from its members. The separate legal personality of a company and the limited nature of a shareholder's liability afford a measure of protection against personal liability being incurred by those who invest in a company as a shareholder or who are involved in managing a company as a director. Ordinarily the members and directors of a company will not be liable for the company's debts and liabilities. At times however these characteristics of a separate corporate personality and limited liability provide a shield behind which the unscrupulous seek to hide. It is part of commercial life that the business of some companies is conducted in an unlawful or irresponsible manner. This often results in insolvency and occasions loss to others. In certain circumstances the law provides for personal liability on the part of those responsible for such misconduct. It is necessary that appropriate legal remedies should exist. 2024-10-25T11:45:37Z 2024-10-25T11:45:37Z 1995 2024-07-12T06:18:53Z Thesis / Dissertation Masters LLM http://hdl.handle.net/11427/40616 eng application/pdf Department of Commercial Law Faculty of Law |
| spellingShingle | Commercial Law Rose-Innes, Leslie Andrew The personal liability of directors in terms of section 424 of the Companies Act - does it provide an adequate remedy? |
| thesis_degree_str | Master's |
| title | The personal liability of directors in terms of section 424 of the Companies Act - does it provide an adequate remedy? |
| title_full | The personal liability of directors in terms of section 424 of the Companies Act - does it provide an adequate remedy? |
| title_fullStr | The personal liability of directors in terms of section 424 of the Companies Act - does it provide an adequate remedy? |
| title_full_unstemmed | The personal liability of directors in terms of section 424 of the Companies Act - does it provide an adequate remedy? |
| title_short | The personal liability of directors in terms of section 424 of the Companies Act - does it provide an adequate remedy? |
| title_sort | personal liability of directors in terms of section 424 of the companies act does it provide an adequate remedy |
| topic | Commercial Law |
| url | http://hdl.handle.net/11427/40616 |
| work_keys_str_mv | AT roseinnesleslieandrew thepersonalliabilityofdirectorsintermsofsection424ofthecompaniesactdoesitprovideanadequateremedy AT roseinnesleslieandrew personalliabilityofdirectorsintermsofsection424ofthecompaniesactdoesitprovideanadequateremedy |