identify the related feature of a company 'its assets and libilities are seprate from those of its owner
1)artificial person
2)separate legal entity
3)perpetual succession
4)common seal
Answers
Answer:
Being an artificial person, a joint stock company has a personality and existence of its own that is independent of its investors. This means that a joint stock company can own property, enter into contracts and conduct any lawful business in its “own” name. It can sue and can be sued by others in the court of law.
Identify the related feature of a company 'its assets and libilities are seprate from those of its owner
1) artificial person
2) separate legal entity
3) perpetual succession
4) common seal
The correct answer is :
2) separate legal entity
Explanation :
Separate legal entity is related feature of a company 'its assets and libilities are seprate from those of its owner.
A company has many distinctive features of its own, which make it a unique organization apart from other organizations. The main characteristics of a company define a company as a separate legal entity. In this way it is different from its members. A company can be defined as an incorporated association, which is an artificial structure based on the framework of a set of laws. It has a separate existence of its own. The company is an entity in the form of a perpetual succession. The company is deemed to be a transferable share capital and limited liability.
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