Question

what do you understand by separate legal existence of a company?In which circumstances this principle does not apply.​

Answer 1

Answer:

Explanation:Question :-

Manu runs at the speed of 2 m/s in a 5 km race. How much time will she takes to complete the race?

Answer :-

Manu will take 2500 seconds to complete the race.

Explanation :-

Given :-

Speed of Manu = 2 m/s

Distance covered by Manu = 5 km

To Find :-

Time taken by Manu to complete the race?

Solution :-

❏ Converting units of distance :-

We know that,

✪ 1 km = 1000 m ✪

↪ Distance in m =(5 × 1000) m

➢ Distance in m = 5000 m

∴ Distance covered by Manu is 5000 m.

Now, we have distance covered by Manu as well as speed of Manu. So, we can easily calculate time taken by Manu by using formula of speed.

We know that,

✪ \bf Speed = \dfrac{Distance}{Time}Speed=TimeDistance ✪

Putting values in formula we get,

⇒ \sf 2 = \dfrac{5000}{Time}2=Time5000

⇒ \sf 2 \:\times\:Time = 50002×Time=5000

⇒ \sf Time = {\cancel{\dfrac{5000}{2}}}Time=25000

➠ \bf \red{Time = 2500\:s}Time=2500s

∴ Time taken by Manu to complete the race is 2500 seconds.

Answer 2

Answer:

Explanation:

Principle of separate legal existence:

One of the cornerstones of corporation law is the notion of separate legal existence. This idea states that the firm is viewed as a separate entity from its members.

The Purposes of Separate Legal Existence:

• The promoters of the firm must submit specific paperwork to the registrar of companies in order to form the company.
• The government organization known as Companies House is under the control of the registrar.
• The registrar will issue a certificate of incorporation after reviewing the paperwork, marking the beginning of the company's existence as a legal entity.

Distinct legal entity:

The fact that a company is treated as a person is the main result of incorporation. It has rights of its own, which are distinct from those of its owners.

Small Liability:

• When shareholders purchase shares from a certain firm and pay a set portion of the share price rather than the full amount, and the company is dissolved, the shareholders are then responsible for paying the remaining balance.
• A shareholder is not required to pay anything at the time of the company's dissolution if they have already paid the whole sum.
• Shareholders therefore have a restricted obligation.

Possession of Real Estate:

• Companies are permitted to own specific properties. Regardless of the shareholders and members of the companies, these properties remain their property.
• When a business wants to borrow money, these assets are used as security.
• These assets could exist today or in the future.

Capacity for Contracts:

• Contracts can be made by a business.
• On the basis of these contracts, the corporation may file suit or may be sued.
• Contract-making authority is given to human representatives who work for the business.
• The company's directors and other representatives carry out the contracts.
• The rights and obligations imposed by the contract are subject to the firm as a person in its own right.

Legal Responsibility

• Someone's behaviour and attitude must match the crime they committed in order for them to be declared guilty.
• It is a common misconception that because businesses don't have independent brains, they are unable to conduct any crimes.
• However, the courts consider the company's controllers to be its brains.

In which circumstances this principle does not apply.​

This refers to any organization's ability to continue operating in the face of a member's passing, insanity, insolvency, or change in membership. In these situations, the shares are transferred to the following generation.

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