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LAW60003 - Law Assignment

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Choose either Question 1 or Question 2. Question 1 Which of the following statements more accurately reflect the current law on lifting (or piercing) the corporate veil and why? ‘Salomon is in the shadow. It is still alive but no longer occupies the centre of the corporation stage’ (Schmittoff, C. M., ‘Salomon in the shadow’ [1976] Journal of Business Law 305) ‘The veil of incorporation is as opaque and impassable as an iron curtain’ (Samuels, A., ‘Lifting the veil’ [1964] Journal of Business Law 218) NB: You can access the articles where ...

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Choose either Question 1 or Question 2. Question 1 Which of the following statements more accurately reflect the current law on lifting (or piercing) the corporate veil and why? ‘Salomon is in the shadow. It is still alive but no longer occupies the centre of the corporation stage’ (Schmittoff, C. M., ‘Salomon in the shadow’ [1976] Journal of Business Law 305) ‘The veil of incorporation is as opaque and impassable as an iron curtain’ (Samuels, A., ‘Lifting the veil’ [1964] Journal of Business Law 218) NB: You can access the articles where the quote is taken from below: 1. Schmittoff, C. M., ‘Salomon in the shadow’ [1976] Journal of Business Law 305: https://commons.swinburne.edu.au/file/71df0e76-c6ae-4575-9d9a-04dc7da92da8/1/0021-9460_pp.305-312.pdf 2. Samuels, A., ‘Lifting the veil’ [1964] Journal of Business Law 218: https://commons.swinburne.edu.au/file/be000aef-72a2-475a-a4c2-ae614a43b541/1/00219460_pp107-117.pdf Resource 1. Reading chapter 11 in the textbook – take note of the cases 2. Journal articles (You need your Swinburne’s students’ login to access this articles) - Anil Hargovan, ‘Piercing the Corporate Veil on Sham Transactions and Companies’ (2006) 24 Company and Securities Law Journal 436; http://ezproxy.lib.swin.edu.au/login?url=http://www.westlaw.com.au/maf/wlau/app/document?docguid=Id05cc31ccfe711e08eefa443f89988a0&tocDs=AUNZ_AU_JOURNALS_TOC&isTocNav=true&startChunk=1&endChunk=1 - Anil Hargovan and Jason Harris, ‘Piercing the Corporate Veil in Canada: A comparative analysis’ (2007) 28 The Company Lawyer (UK) 58. http://ezproxy.lib.swin.edu.au/login?url=https://login.westlaw.co.uk/maf/wluk/app/document?&srguid=i0ad8289e0000015c8611cd25b9442f6e&docguid=I208447B19F7D11DB95EEAC25780548A8&hitguid=I208447B19F7D11DB95EEAC25780548A8&rank=7&spos=7&epos=7&td=11&crumb-action=append&context=4&resolvein=true - Ian Ramsay and David Noakes, ‘Piercing the Corporate Veil in Australia’ (2001) 19 Company and Securities Law Journal 250. http://ezproxy.lib.swin.edu.au/login?url=http://www.westlaw.com.au/maf/wlau/app/document?docguid=I093aed4fcf8d11e08eefa443f89988a0&tocDs=AUNZ_AU_JOURNALS_TOC&isTocNav=true&startChunk=1&endChunk=1 - Jason Harris, Anil Hargovan, ‘Corporate groups: the intersection between corporate and tax law Commissioner of Taxation v BHP Billiton Finance Ltd’ (2010) 32 Sydney Law Review 723 http://ezproxy.lib.swin.edu.au/login?url=http://search.ebscohost.com/login.aspx?direct=true&db=lgs&AN=502651161&site=ehost-live&scope=site - Helen Anderson, ‘Piercing the Veil on Corporate Groups in Australia: The Case for Reform’ [2009] 33 Melbourne University Law Review 333 http://ezproxy.lib.swin.edu.au/login?url=http://search.ebscohost.com/login.aspx?direct=true&db=lgs&AN=502075836&site=ehost-live&scope=site Question 2 Andrew and Margaret visit their local travel agent to discuss the possibility of taking a holiday on an island off the Queensland coast. Neither has previously travelled outside Victoria and they explain to the agent that they would like his advice on the best value available, specifying they would like a restful holiday. They require access to a nice beach and facilities for golf and water skiing. The agent recommends that they go to Gunk Island, which he assures them, will satisfy all their stated requirements. They book accordingly. Gunk Island fails to live up to their expectations. Their accommodation is a deserted cabin with no water, no toilet facilities and no vehicle access. It appears to have been deserted for some time. The only beach within walking distance is covered with rocks and coral, and is very unsuitable for swimming. There are no facilities for water skiing and the only golf course on the island is a mini golf course in the village, four kilometres away, which has been vandalised by youths. The price paid by Andrew and Margaret for their holiday package was approximately the same as for most alternative resorts for which they had been shown brochures by the travel agent. Upon their return to Melbourne, Andrew and Margaret consult you and state that they wish to take legal proceedings against the travel agent. They point out that, apart from the cost of the holiday, they have incurred other expenses. These include the cost of medical treatment for Margaret, who suffered a nervous breakdown as a result of unsatisfactory facilities on Gunk Island; Margaret’s anticipated loss of wages (she will be unable to resume work for at least three months); and the cost of additional airfares incurred. They instruct you because the facilities at the resort were so poor they decided to catch an earlier flight home. As a result, they had to pay an extra amount for their flight as their holiday package required them to fly home on a specific date. Advise Andrew and Margaret as to their prospects of success in an action against the travel agent. If they succeed, what will be the extent of the remedies that will be available to them? Your answer must provide relevant justifications and refer to legal principles and cases to support your discussion. Resource (a) Reading: Chapter 10 in the textbook. (b) Journal articles (You need your Swinburne’s students’ login to access this articles) - Jane Swanston, ‘Discharge of Contracts for Breach’ (1981) 13(1) Melbourne University Law Review 69; http://ezproxy.lib.swin.edu.au/login?url=http://www.heinonline.org/HOL/Page?handle=hein.journals/mulr13&collection=journals&id=79 - C Kidd, ‘Partial Performance of Lump Sum Contracts: Proposals for Reform’ (1985) 59 Australian Law Journal 96; http://ezproxy.lib.swin.edu.au/login?url=http://www.westlaw.com.au/maf/wlau/app/document?docguid=Ic7c20b59cfc311e08eefa443f89988a0&tocDs=AUNZ_AU_JOURNALS_TOC&isTocNav=true&startChunk=1&endChunk=1 - G L Williams, ‘Partial Performance of Entire Contracts’ (1941) 57 Law Quarterly Review 373; http://ezproxy.lib.swin.edu.au/login?url=http://www.heinonline.org/HOL/Page?handle=hein.journals/lqr57&start_page=373&collection=journals&id=383 - M Dockray, ‘Cutter v Powell: A Trip Outside the Text’ (2001) 117 Law Quarterly Review 664; http://ezproxy.lib.swin.edu.au/login?url=https://login.westlaw.co.uk/maf/wluk/app/document?&srguid=i0ad69f8e0000015c8b87a07ec03888dc&docguid=ICCAE8F60E72111DA9D198AF4F85CA028&hitguid=ICCAE8F60E72111DA9D198AF4F85CA028&rank=1&spos=1&epos=1&td=1&crumb-action=append&context=6&resolvein=true - Roger Brownsword, ‘Retrieving Reasons, Retrieving Rationality? A New Look at the Right to Withdraw for Breach of Contract’ (1992) 5 Journal of Contract Law 83; http://ezproxy.lib.swin.edu.au/login?url=https://advance.lexis.com/api/permalink/c6fac17d-4e52-4160-9388-416b2b50d06b/?context=1201008&federationidp=S68ZPG40324

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Executive summary 
This report discuss the important legal aspect based on the given two statement, basically in this report the central idea is about the applicability of corporate vile. This said concept was first innovated and applied in one of the famous case, namely Salomon v. Salomon & Co. Ltd. discussed in the later part of this report. Here as a part of the requirement we have to identify which of the given two statements more accurately reflect the current law on lifting (or piercing) the corporate veil and why ?  The statement are ‘Salomon is in the shadow. It is still alive but no longer occupies the centre of the corporation stage’orthe veil of incorporation is as opaque and impassable as an iron curtain.

Introduction 
The governing regulation of corporation gives a specified identify as if available for every individual and every human being, it was popularly known among the every business expect and the professional practising expert that on satisfactory incorporation of company. It becomes a separate legal entity. In more professional terms where a company is incorporated it is treated as a separate legal business entity which is different or distance from promotors, member, directors, employees, investors and every other persons or expect who were engaged in corporate activities.  Hence the characters of separate legal entity become a major factors for implication of concept of corporate vile. The concept of corporate vile separates corporates from the peoples who were engaged in incorporate and in operation of business. The concept was popularly used in numbers of case by court but it has not secured as much popularity as it may be, in literatures. During those days there is lack of clear guidelines for the implication of concept, peoples find it difficult in interpreting a situation where and how and why court used and applied this concept in respected cases. It was almost difficult to predict when the court will applies the concept of separates legal entity and disregard the concept of separate legal entity
 

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