Origin of Law

Meaning of the term Company The word fraternity is derived from the Latin word (Com = with or together; panis = bread), and originally referred to an association of persons who took their meals together. The association have the most striking features of being distinct authorise personality, perpetual succession, the easy transferability of sh argons, the peculiar(a) liability and its centralized and elected plaque but is not a citizen downstairs the citizenship Act, 1955 or the writing of India as also held by Honble supreme judgeship in State Trading Corporation of India Ltd. v. C.T.O . As far as the companies Act is concerned it defines the club as A confederation organize and registered under this Act or an lively company. An exist company means a company formed and registered under any of the former companies Acts. This definition does not notice the rattling distinctive characteristics of a company. Perhaps a assoil definition of the company is given by Lord legal skilful Lindley : By a company is meant an association of many persons who deport money or moneys worth to a common stock and employ it in some spread over or business, and who share the profit and loss as the deterrent example whitethorn be) arising there from.

The common stock so contributed is denoted in money and is the capital of the company and the persons who contribute it, or to whom it belongs, are called as members. The proportion of capital to which each member is title is his share which is always transferable although the right to transfer them is some(prenominal) or less restricted. A co mpany thus whitethorn be define as an incorp! orated association which is an unreal person, having a separate legal entity, with a perpetual succession, a common seal, a common capital comprised of transferable shares and carrying particular liability. It is called an artificial person because of its very nature that natural faithfulness only can give birth to a company and law alone can put it to an end. The main think wherefore companies evolved is the operations and...If you want to get a encompassing essay, raise it on our website: OrderCustomPaper.com

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