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The landmark case of Salomon VA Salomon & Co Ltd established that: O A corporation and its shareholders are jointly and severally liable for all

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The landmark case of Salomon VA Salomon & Co Ltd established that: O A corporation and its shareholders are jointly and severally liable for all of debts. O A corporation is a separate legal entity from its shareholders. O The shareholders with the largest amount of personal assets will be liable for all a corporation's debts. 0 All shareholders are liable for the debts of a corporation

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