Corporate veil: Difference between revisions

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 The [[verbiage]], on the other hand — when you can find it — will be shot through with ambiguities, caveats and concessions some put-upon [[negotiator]] made to avoid [[I’m not going to die in a ditch about it|dying in a ditch about them]] and, in any case, will lose in any argument between subsequent conversations and the written record.<ref>This is a dark inversion of the [[canon of interpretation]]: “Speciali generalibus non derogant”</ref>
-So here is the thing: you have the ''social organism'' that is a multinational financial services firm that bumps around the market ecosystem like an ineffable, shape-shifting,our-of control dirigible — this is the huge collection of employees, consultants, contractors with whom you interact each day - the ''[[meatware]]'' — and you have the convoluted array of electronic [[books and records]] that ''represent'' that firm in the opinion of its risk controllers, management and the wider market — comprising its client static data, trading systems, executed document repositories, accounts, margin systems and accounting treatments.
+So here is the thing: you have the ''social organism'' that is a multinational financial services firm, and which bumps around the market ecosystem like an ineffable, shape-shifting, out-of control dirigible — this is the huge collection of employees, consultants, contractors with whom you interact each day — the “[[meatware]]” — and you have the convoluted array of electronic [[books and records]] that ''represent'' that firm in the opinion of its [[risk controller]]s, management and the wider market — comprising its client static data, trading systems, executed document repositories, accounts, margin systems and accounting treatments.
-These two things are very different, and the risk between them is asymmetrical: Any accommodation granted by the social organisation to the outside world is, to all intents, binding — either through ostensible authority, but more realistically because the [[commercial imperative]] so dictates — ''whether or not that accommodation makes its way into the firm’s [[books and records]]''. But a benefit — an accommodation granted ''to'' the firm ''by'' the outside world — that does not make it into the firm’s books and records — for that one gets no credit, and nor — when the client in question asks [[who’s queen]]? — should anyone expect it.
+These things are very different, and the risk between them is asymmetrical: Any accommodation granted by the social organisation to the outside world is, to all intents, binding — either through ostensible authority, but more realistically because the [[commercial imperative]] so dictates — ''whether or not that accommodation makes its way into the firm’s [[books and records]]''. But a benefit — an accommodation granted ''to'' the firm ''by'' the outside world — that does not make it into the firm’s books and records — for that one gets no credit, and nor — when the client in question asks [[who’s queen]]? — should anyone expect it.
 {{sa}}
 *For some crazy law chat on the historical concept of the [[corporate veil]], see {{casenote|Salomon|Salomon & Co Ltd}}
+*[[Signing authority]]
+{{Ref}}