From The American Case To Study The External Reverse Pierce The Company Veil System

As the most important form of economic organization of the modern society,corporation has three basic systems, i.e. the shareholder limited liability system, theindependence of corporate personality system and the separation between thecompany property and the shareholders property. And as the core pillar of corporationsystem, the independence of corporate personality system has extremely motivatedthe vitality of the market economy. However, with the development of the marketeconomy, some serious problems have come out from corporation system itself. Theabuse of independence of corporate personality system has impeded the civil tortcompensation system to exert its function, and, to some extent, it has become a shedfor the debtor to flee from its debts.From studying the attitudes and viewpoints of courts of the United States indifferent period about the external reverse pierce the corporate veil system, the scopeof application and conditions of this system will be concluded. After that conclusion,the legislation and judicial actuality of the external reverse pierce the corporate veilsystem in China will be introduced, and some suggestion will be made for China toimprove this system.This article is composed of preface, main body (including four chapters) andperoration. In the first chapter, the legal basis and value of the external reverse piercethe corporate veil system will be analyzed. In the second chapter, several cased inUnited States will be introduced, and some enlightenment will be concluded from thejudgments. In the third chapter, the theory and practice of this system in China will be studied. And in the last chapter, some suggestion will be made for China to improvethis system.