John and Lynne have been working together as managers at British Imperial Textile Fusion Products Limited. They have now decided to leave employment and start their own company which will manufacture clothes for all ages, and they would like to specialise in manufacturing winter clothing. John and Lynne are fascinated by company law and have developed a deep interest in this area. However, they are confused when their friend Nicky tells them that their company will have a legal personality. Explain to Lynne and John what separate legal personality means for a company and how this has been interpreted by the court using relevant case law