K.S. Cooperative society d). (a) Perpetual succession - Perpetual succession refers to continuous succession of a corporation.

Objective and Merits of a Company. 11 - 20 of 500 . Architectural Photography 5. 2 Thank You. As provided by the Companies Act Section 34(2), an incorporated company has the characteristic of perpetual succession. 10m 56s. Explain with example. CASE STUDY:NATIONAL INSTITUTE OF FASHION TECHNOLOGY, NEW DELHI 2. b) Common seal: it is an agreement of legal binding. Even the death, insolvency, mental disorder or retirement of a member does not affect the corporate existence of the company. The very objective of a corporation is to have a perpetual succession, for there can not be a succession forever without incorporation. The course will be based on Class 11 NCERT syllabus. Plzz ans this ques and give ur views? Huf b). It can be ceased with a specific procedure. None of these . In spite of any changes in members of the company, the company will be the same entity with the same privileges, immunities, estate, and possessions. perpetual succession. (a) perpetual succession: A company is created by law but cannot end by itself. Class-11-Business-Studies, class-11-business-studies-unit-2; Prev ques Next ques. It is an entity with a perpetual succession. Liability, Perpetual Succession, Capacity to hold Property, Capacity to hold a separate Legal Personality (but not a Citizen under the Constitution of India or the Citizenship Act, 1955), instances of Personal Liability of Directors and Members; Concept of Lifting the … The business does not get affected by death or insolvent of any busines person . Unlike a natural person a company never dies.

Characteristics or Features of a Company (i) Artificial person (ii) Voluntary association […] Perpetual Succession. The very objective of a corporation is to have a perpetual succession, for there can not be a succession forever without incorporation. It can be ceased with a specific procedure. The continued existence of a corporation until it is legally dissolved.

A corporation, being a separate legal person, is unaffected by the death or other departure of any member but continues in existence no matter how many changes in membership occur. [ 2057 Q7, 2058 Q 7, 2062 Q 5, 2065 Q 1, 2067 Q … Meaning and Characteristics of a Company. (d) Perpetual succession: Being distinct from the members, the death, insolvency, or retirement of its members does not affect the life of the company. Favourite answer. Explain the following terms in brief (a) Perpetual succession (b) Common seal (c) Karta (d) artificial person | EduRev Commerce Question is disucussed on EduRev Study Group by 140 Commerce Students. . Company c). Perpetual succession means continuity of the business without being affected by death, entry or exit of its members.