Discuss the proposition that the rule in Salomon v Salomon & Co Ltd [ 1897] AC 223, although legally and doctrinally correct, does not always reflect the reality of the division of powers and influence between the board of directors and the general meeting.

Specifically, consider how, in the case of either (“quasi-partnership”) small private companies or quoted public companies, the influence of the shareholders is larger than acknowledged in Salomon.

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