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Article: Form and substance of the doctrine of piercing of corporate veil
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TitleForm and substance of the doctrine of piercing of corporate veil
 
AuthorsCheng, TKH
 
KeywordsPiercing the corporate veil
Limited liability
Shareholder liability
 
Issue Date2010
 
PublisherMississippi Law Journal. The Journal's web site is located at http://mslj.law.olemiss.edu/
 
CitationMississippi Law Journal, 2010, v. 80 n. 2, p. 497-585 [How to Cite?]
 
AbstractThis Article proposes a reformulation of the doctrine of piercing of corporate veil based on the rationale of prevention of shareholder unjust enrichment. Applying the formal and substantive dichotomies propounded in Professor Duncan Kennedy’s seminal article “Form and Substance of Private Law Adjudication”, it examines the formal and substantive relationships of the doctrine and the related rule of limited liability. It affirms that the doctrine is of an altruistic nature, which provides a basis for launching an inquiry into its principal objective. An examination of the effects of corporate veil liability and its interaction with the underlying contractual and tortious claims shows that the genuine focus of the doctrine is shareholder unjust enrichment. Using this as a basis for a reexamination of the doctrine, this Article proposes a de-emphasis of the criteria that are usually considered under the formalities prong of the doctrine and a sharpening of focus on instances of shareholder unjust enrichment.
 
Descriptionhttp://mslj.law.olemiss.edu/supra/volume80/Cheng.pdf
 
ISSN0026-6280
 
DC FieldValue
dc.contributor.authorCheng, TKH
 
dc.date.accessioned2010-10-31T10:17:47Z
 
dc.date.available2010-10-31T10:17:47Z
 
dc.date.issued2010
 
dc.description.abstractThis Article proposes a reformulation of the doctrine of piercing of corporate veil based on the rationale of prevention of shareholder unjust enrichment. Applying the formal and substantive dichotomies propounded in Professor Duncan Kennedy’s seminal article “Form and Substance of Private Law Adjudication”, it examines the formal and substantive relationships of the doctrine and the related rule of limited liability. It affirms that the doctrine is of an altruistic nature, which provides a basis for launching an inquiry into its principal objective. An examination of the effects of corporate veil liability and its interaction with the underlying contractual and tortious claims shows that the genuine focus of the doctrine is shareholder unjust enrichment. Using this as a basis for a reexamination of the doctrine, this Article proposes a de-emphasis of the criteria that are usually considered under the formalities prong of the doctrine and a sharpening of focus on instances of shareholder unjust enrichment.
 
dc.descriptionhttp://mslj.law.olemiss.edu/supra/volume80/Cheng.pdf
 
dc.identifier.citationMississippi Law Journal, 2010, v. 80 n. 2, p. 497-585 [How to Cite?]
 
dc.identifier.epage585
 
dc.identifier.hkuros179627
 
dc.identifier.issn0026-6280
 
dc.identifier.issue2
 
dc.identifier.openurl
 
dc.identifier.spage497
 
dc.identifier.urihttp://hdl.handle.net/10722/124170
 
dc.identifier.volume80
 
dc.languageeng
 
dc.publisherMississippi Law Journal. The Journal's web site is located at http://mslj.law.olemiss.edu/
 
dc.relation.ispartofMississippi Law Journal
 
dc.subjectPiercing the corporate veil
 
dc.subjectLimited liability
 
dc.subjectShareholder liability
 
dc.titleForm and substance of the doctrine of piercing of corporate veil
 
dc.typeArticle
 
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