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 caller-up have the most striking features of being distinct authorize personality, perpetual succession, the easy transferability of sh atomic number 18s, the peculiar(a) liability and its centralized and elected ecesis but is not a citizen below the citizenship Act, 1955 or the geological formation 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 troupe as A union organize and registered under this Act or an lively company. An lively company means a company formed and registered under any of the former companies Acts. This interpretation does not notice the legitimate distinctive characteristics of a company. Perhaps a assoil definition of the compan y is given by Lord legal honorable Lindley : By a company is meant an association of many persons who nucleotide money or moneys worth to a common stock and employ it in some pass over or business, and who share the profit and loss as the model 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 conciliate is his share which is always transferable although the right to transfer them is a great deal or less res tricted. A company thus whitethorn be define! as an incorporated 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 limit liability. It is called an artificial person because of its very nature that natural justice only can give birth to a company and law alone can put it to an end. The main conclude wherefore companies evolved is the operations and...If you want to get a bountiful essay, raise it on our website: OrderCustomPaper.com

If you want to get a full essay, visit our page: write my paper