December 2018
Beginner
433 pages
21h 2m
English
book
Entrepreneurship Development and Small Business Enterprises, 3rd Edition by Pearson
by Charantimath Poornima M.
Content preview from Entrepreneurship Development and Small Business Enterprises, 3rd Edition by Pearson
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BUSINESS ORGANIZATIONS AND BUSINESS LAWS 259
¡ Artificial person: A company is designated as an artificial person, created by law and does not
possess the physical attributes of a natural person.
¡ Separate legal entity: A company is a corporate body and is known by a name mentioned in the
memorandum of association. A company has an existence independent of its members. It has a
distinct legal status apart from the subscribers to the memorandum of association. A shareholder
cannot be held responsible for the acts of the company.
¡ Separate property: A company can own property, enter into a contract, and conduct any law-
ful business in its ...
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