Question

Define a Company. “A Company has a separate legal entity from its member”.

Examine this statement.

Answer 1

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COMPANY,That group of people which is incorporated under the company act ,whose creation is due to a special purpose the liability of the member is generally Limited ,whose existence is separate from its member and is continuous which has a common seal .

SEPARATE LEGAL ENTITY--------------

The existence of a company is separate and free from its member .A company can keep property in its name and enter into agreement .

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Answer 2

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COMPANY,That group of people which is incorporated under the company act ,whose creation is due to a special purpose the liability of the member is generally Limited ,whose existence is separate from its member and is continuous which has a common seal .

SEPARATE LEGAL ENTITY--------------

The existence of a company is separate and free from its member .A company can keep property in its name and enter into agreement