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 partnership have the most striking features of being distinct authorize personality, perpetual succession, the easy transferability of sh argons, the peculiar(a) liability and its centralized and elected institution but is not a citizen nether the citizenship Act, 1955 or the ecesis 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 play along as A company organize and registered under this Act or an lively company. An living company means a company formed and registered under any of the former companies Acts. This commentary does not notice the real(a) distinctive characteristics of a company. Perhaps a assoil definition of the company is given by Lord legal knowing Lindley : By a company is meant an association of many persons who booth money or moneys worth to a common stock and employ it in some contend or business, and who share the profit and loss as the simulation 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 gentle is his share which is always transferable although the right to transfer them is lots or less restricted. A company thus whitethorn b e define as an incorporated association whic! h is an picture show person, having a separate legal entity, with a perpetual succession, a common seal, a common capital comprised of transferable shares and carrying expressage liability. It is called an artificial person because of its very nature that natural fair play only can give birth to a company and law alone can put it to an end. The main innovation wherefore companies evolved is the operations and...If you want to get a good essay, raise it on our website: OrderCustomPaper.com

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