Question

A company is said to be an artificial person created by law having a

separate entity with perpectual succession and a common seal.

Discuss the above statement.​

Answer 1

Answer:

After passing of the Companies Act, 2013, all these acts have been repealed. The definition contained in the Act does not throw any light on the features of a company. A more comprehensive definition of a company has been given by Prof. Haney : A company is an incorporated association which is created by law, having a separate entity with a perpetual succession and a common seal. Two more features division of capital into transferable shares and limited liability of the members may be added to the definition given by Prof. Haney.

After passing of the Companies Act, 2013, all these acts have been repealed. The definition contained in the Act does not throw any light on the features of a company. A more comprehensive definition of a company has been given by Prof. Haney : A company is an incorporated association which is created by law, having a separate entity with a perpetual succession and a common seal. Two more features division of capital into transferable shares and limited liability of the members may be added to the definition given by Prof. Haney.Explanation:

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Answer 2

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