Possible Individuals Overcome Challenges †Myassignmenthelp.Com

Question: Discuss About The Possible Individuals Overcome Challenges? Answer: Introducation Directing MIND and WILL refers to a concept that has been in existent since 1957 and is denoted as brains that are responsible for making decisions that are corporate. Lord Denning is the person behind this concept. In addition, the person who makes decisions should also determine the companys focus and direction. Thinking ability makes it possible for individuals to overcome challenges. This is because the mind knows what the correct thing to be done is. Ones mind should be self-directed so as to allow one to be free and act as human. In order for a mind to be able to direct, it should have an ability to adapt, wake as well as style itself to its preferred nature. Also, it should have ability to make whatever happens the way it should have. Natural persons are important in actions of a company which is a legal person. Therefore, there is need for guidelines to companys attribution of the state of mind and acts of the individuals. When a companys essential rights are questionable, there arises attribution questions which can as well arise when a company is prevented from imposing a judgment or pursuing an act that is favoring itself due to its misconduct. However, there are limits in its attribution. For example in case of insolvency of a company, its shareholders cannot authorize breach of duty even if they are unanimous and also the companys assets are not prone to over riddance by the companys directors as the interests of the creditors. PIERCING THE CORPORATE VEIL refers to a decision that is legal to treat a companys rights as those of its shareholders. A company, which is a single legal person, is usually responsible for its debts and profits. A companys responsibilities and rights are independent from individuals who invest in or own them. Therefore, there is a method provided by a company to individuals to share losses and profits as well as to operate a business Piercing the corporate veil may occur when courts hold a companys shareholders, owners and members personally accountable for the debts of a business. The creditors are allowed to go after the investments, assets, home and bank accounts to recover their debts. However, the courts do not hold innocent parties responsible for the debts but rather they impose liability on the specific individuals who are behind the actions that are fraudulent. Situations in which courts might pierce corporate veil include: when there lacks a real separation between the owners of the company and the company itself. Also, where the actions of the company are wrong and where there is an unjust cost suffered by the creditors of the company. Larger companies are more prone to suffer compared to smaller ones who obey formalities. Thus larger companies are likely to experience a piercing of their corporate veil. Therefore, it is advisable for all companies to observe the set rules that maintain and govern companies. This can be done by holding meetings with the shareholders to discuss progress, embracing guidelines and ensuring they are abided by and also maintaining accurate company records. References Ferran, E., 2011. Corporate Attribution and the Directing Mind and Will. Bonnett, M., 2002. Education for sustainability as a frame of mind.Environmental Education Research,8(1), pp.9-20. Barber, D.H., 1980. Piercing the Corporate Veil.Willamette L. Rev.,17, p.371. Vandekerckhove, K., 2007. Piercing the corporate veil.Eur. Company L.,4, p.191. Choi, S.J., 1997. Company Registration: Toward a Status-Based Antifraud Regime.The University of Chicago Law Review,64(2), pp.567-651. Singh, P.J. and Mansour-Nahra, P., 2006. ISO 9000 in the public sector: a successful case from Australia.The TQM Magazine,18(2), pp.131-142.