case United Kingdom English original

Macaura v. Northern Assurance Co Ltd

House of Lords decision applying separate personality to corporate property, holding that a shareholder had no personal insurable interest in assets owned by the company.

Use It For

Use this after Salomon to show that separate personality affects assets and risk allocation, not only creditor claims.

Teaching Notes

The case is a useful bridge from abstract personality doctrine to practical questions about who owns, insures, and bears loss on corporate property.