ABSTRACT
Various doctrines have been devised or modified so as to increase the liability of business enterprises, while the firewall insulating equity investors from the consequences of enterprise activities appears to have been significantly strengthened and extended. The corporate shareholder, the limited partner, the member of a limited liability company, and, of course, the non-equity creditor are the characters in modem business scenarios typically regarded as enjoying the attribute; in distinction are the general partner and the sole proprietor. The close corporation movement came to full flower in the early 1990s, when limited liability company legislation became roughly as popular as Arnold Schwarznegger. Contract law, too, has changed in a variety of ways increasing the exposure of businesses to liability. The isolation of corporate law as a separate course of study and subject of articles, casebooks, and readers has set it adrift from other legal land-masses.
