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Forms Of Business Organization
Question
Discuss whether a company's existence is affected by the death of a member.
Solution
- A company's eixstence is not affected on the death of a member, since company has perpetual succession.
- An incorporated company cannot die until it is liquidated.
- Its life is not affected by death or insolvency of shareholders as well as of directors.
- Members may come and go, but the company goes on forever. Even if its all members suddenly die, its continuity is not affected.
Some More Questions From Forms of Business Organization Chapter
Can a minor become a member of Joint Hindu Family?
What is the meaning of Partnership organization?
Can a Partnership firm have a minor partner ?
Define partnership deed.
What do you understand by co-operative society?
Define company.
What do you understand by a Private Company?
What do you understand by a Public Company?
Under what circumstances, is a partnership form of business organisation suitable ?
Write a short note on 'implied agency', one of the important characteristics of partnership and also true test of partnership.
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Mock Test Series
Mock Test Series