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Essay text:
Salomon & Co. where the House of Lords confirmed the separate legal personality of the company, and that the liabilities of the company were separate and distinct from those of its owners.
A company has two separate identities such as the case below that argues that they separate in terms of the company and the individual.
http://en.wikipedia.org/wiki/Company_(law)
Such as the case of saloman v saloman & co where the house of lords enabled solomon to not pay off the debts with his personal money which means his got limited liability in which case was a benefit such as if he had unlimited liability he would be liable for his own debt and would have to pay out from his own money...
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