Question

Define Joint Stock Company and explain its features.

Answer 1

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A joint-stock company is a business entity in which shares of the company's stock can be bought and sold by shareholders. Each shareholder owns company stock in proportion, evidenced by their shares. Shareholders are able to transfer their shares to others without any effects to the continued existence of the company.

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Answer 2

Joint Stock Company can be defined as follows:

Explanation: It refers to an artificial person which is being created by law with separate legal entity, perpetual succession and a common seal. There are various forms of the business organizations and it is the most suitable form for a large scale business.

FEATURES:

• Artificial Person: Joint stock company is an artificial person which is being created by the law. Just like any other person, it can enter into a contract in its own name, buy and sell property, can sue or be sued etc.
• Separate Legal Entity: It has a separate legal entity which means that company and its members are separate from each other. So, the members are not held liable for the working of the company.

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