Nature and cheracteristics of company

Nature of company:

A company, in common parlance, means a group of persons associations together for the attainment of commen end, social economic.

Company:

A voluntary association of persons, a company, in broad sense, may mean an association of individuals formed for some common purpose, but voluntary association of persons.

Characteristics of a company:

1.separate legal entity:

A company is in law regarded as an entity separate from its members. In other words, it has an independent corporate existence.

2.limited liability:

A company may be a company limited by shares or a company limited by gurantee. In a company by shares.


3.perpectual succession:

A company is a juristic person with a perpectual succession.

4.common seal:

Since a company has no physical existence, it must act through its agents and all such contracts entered into by the own seal of company.

5.capacity to sue:

A company can sue and be sued in its corporate name. it may be also infilict or suffer wrongs. It can in fact do or have done to it most of things being.