The System Of Personality Denial In Corporation Law

The system of personality denial in Corporation Law is a set of regulations, which the personality of the corporation is denied in some condition and the share holders are responsible for the debt.The system came to the world in order to make up the flaw. It is well known that the corporation has independent personality, and the share holders take limited responsibility. But in fact, the share holders abuse the right. To limit the phenomenon, the system of disregard of corporation personality came to birth.This article analyzing the background of the system firstly, compares the practice and look for the theory behind the system. After that, some view on how and when to apply the system are taken up. The author also argues about the common viewpoint in practice.