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In Salomon v. Salomon & Co Ltd [1897], the House of Lords ruled that a company formed by Mr. Salomon was a separate legal entity and he was not personally liable for its debts, despite claims of fraud and agency. The court emphasized that the Companies Act 1862 allowed for the incorporation of a company without requiring shareholders to be independent or have significant stakes. This landmark decision established the principle of separate legal personality, affirming that the motives of shareholders do not

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