Question

139. A company is a juristic person with a perpetual succession.
a) as such it never dies.
b) its life depends upon the life of its members.
c) its life depends upon the life of promoters of the company.
d) none of the above.​

Answer 1

as such it never filed perpetually succession

Answer 2

A company is a juristic person with a perpetual succession because it never dies.  

• Unlike the sole proprietorship or a partnership firm which dissolves after the death insolvency or exit of the sole proprietor or a partner a company enjoys perpetual succession.
• It continues despite the death exit or insolvency of the owner.
• A company has its own separate legal entity and is a legal person recognized by the law.
• It has its own rights and duties apart from its owners.
• It can take loans and lawsuits in its own name.