Discuss the rationale and impact of the decision on company law Essay - 1

Discuss the rationale and impact of the decision on company law - Essay Example The case and its subsequent ruling were significant in informing successive laws that would help mitigate on the numerous dispute arising from business engagement. The doctrine of corporate identity for example exempts the shareholders of an insolvent company from any case by creditors since the company becomes the defendant in such cases. Mr. Aron Salomon ran a successful shoe manufacturing in the United Kingdom. The boot manufacturing business was a major success thus enticing his sons who expressed interest in joining the business. As such, Mr. Salomon turned his business into a limited company, which then purchased his previous business at a cost of  £39,000. Mr. Salomon became the company’s largest shareholder after he purchased 20,001 shares of the company’s 20,007 shares. Additionally, he loaned the company  £10,000. Unfortunately, subsequent years became unfavorable for the business thus causing massive loses for the company. The government, which was the company’s major customer, withdrew its tender thereby leading to a massive decline of the company’s revenue. The company therefore began defaulting on the  £10,000 debenture it owed Salmon. Half of the debenture belonged to Broderip who the sued the company thus forcing the government to put the company under liquidation. The company paid Broderip his  £5,000 but this left the company at an unstable position since it could not pay the other unsecured creditors. The company failed to reimburse the unsecured creditors. The liquidator concluded that the government should not honor the floating charge. Such an action would make Salmon personally responsible for the debt. Salmon contested the decision in court thus instigating a lengthy court battle that would reform the country’s company law. At the end of the length court cases that ended up at the House of Lords, the lawmakers appreciated the fact that a company is independent and therefore a separate legal entity. In cases

Nuclear power Research Paper Example | Topics and Well Written Essays - 1500 words

Nuclear power - Research Paper Example However, in 1789, Uranium was discovered by a German scientist named Martin Klaproth. In 1942, beneath the bench of a football ground at the University of Chicago, Enrco Fermi who was the noble prize winner with his group was working on an important project. They were on a mission to create first nuclear reactor (Armaroli, Nicola, and Vincenzo 1). Nuclear reactor was consisted of graphite (400 tons) and uranium (60 tons). ZIP was the main lever for stopping the experiment if any problem occurs. It was controlled by Canadian Physicist Walter Zinn. Fermi checked the increase in power and with the passage of time that found out that the objective was gained. They sent a private message to Washington that the nuclear energy had turned into a reality. The struggles of Canada’s scientific group were a victory and the nuclear reactor was constructed. The nuclear energy is discharged from atoms in two various methods: nuclear fusion and nuclear fission. Nuclear Fission works by dividing an unbalanced uranium nucleus creating nuclear power. This creates neat which bubbles water and makes stream. This steam changes turbines to produce energy. The difficulty is that after flaming is done, the remaining material remains radioactive for thousands of year. Nuclear fission is believed to be very sanitary form of power. It works by joining two nuclei to form a larger nucleus. Fusion gives power to bubble water and create steam to form turbines. Unluckily, Scientists have not yet been able to utilize nuclear fusion to create electricity because there are three necessary things needed for this procedure; extreme High temperature, two nuclei tha t will combine together and provide energy, the capability to store the energy (Murray, Raymond, and Keith 11) Thus, nuclear fission works basically on uranium but nuclear fusion utilizes tritium and deuterium, both isotopes of hydrogen which are considered as unconstrained sources of