What Is A Company?

What Is A Company?

1 Answer

  1. A compnay is defined as an artificial legal person, formed by a legal person or a group of persons to engage in or carry on a business or industrial enterprise.
    A company has following features:
    1. Incorporated association: A company should be registered under a Companies Act for its existence.
    2. Artificial Legal Person: In law, a company has all the rights that a real person posseses.
    3. Separate Legal Entity: A company is liable to be its debts to creditors and can be sued for their deeds.
    4. Perpetual existence: Companys life does depend on its members life.
    5. Common Seal: As company is an artificial legal person, it uses its common seal as substitute to signature
    You can read https://www.feedough.com/what-is-a-company-meaning-types-features-of-a-company/ for better understanding of the topic.

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