MAIN DOCTRINE OF SEPARATE JURIDICAL PERSONALITY

Importance of Main Doctrine:

A corporation, upon coming into existence, is invested by law with a personality separate and distinct from those
persons composing it as well as from any other legal entity to which it may be related, with the following consequences:

(i) The first consequence of the doctrine of legal entity of the separate personality of the corporation may not be
made to answer for acts and liabilities of its stockholders or those of legal entities to which it may be connected
or vice versa. General Credit Corp. v. Alsons Dev. and Investment Corp., 513 SCRA 225 (2007);

(ii) This separate and distinct personality is, however, merely a fiction created by law for conveyance and to
promote the “ends of justice.” LBP v. Court of Appeals, 364 SCRA 375 (2001).