Question

A company on registration:
A) Acquires a corporate personality
B) Does not acquire a corporate personality
C) Acquires a corporate personality depending on the intention of the promoters
D) Acquires a corporate personality depending on the intention of the government

Answer 1

Answer:

D because it need government approval

Answer 2

The correct answer is OPTION A: Acquires a corporate personality.

• The legal acknowledgement of a corporation as a separate legal entity from its members is known as corporate personality.
• A separate legal entity has its own identity apart from its shareholders, directors, authorities, and founders.
• The "cloak of incorporation" is how it's referred to.
• The continuous succession of a firm is a result of corporate personality.
• It simply implies that the business will continue to operate until it is formally wound up.
• A firm will continue to exist regardless of how many times its membership changes.
• Even if all of a corporation's members die, their privileges, immunities, estates, and interests are unaffected.