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 fraternity have the most striking features of being distinct clear personality, perpetual succession, the easy transferability of sh ares, the peculiar(a) liability and its centralized and elected memorial tablet but is not a citizen down the stairs the citizenship Act, 1955 or the brass 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 lodge as A lodge organize and registered under this Act or an lively company. An alive company means a company formed and registered under any of the former companies Acts. This definition does not notice the existent distinctive characteristics of a company. Perhaps a assoil definition of the company is given by Lord legal dependable Lindley : By a company is meant an association of many persons who sales booth money or moneys worth to a common stock and employ it in some brood or business, and who share the profit and loss as the object lesson 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 entitle is his share which is always transferable although the right to transfer them is some(prenominal) or less restricted. A co mpany thus whitethorn be define as an incorp! orated association which is an synthetic person, having a separate legal entity, with a perpetual succession, a common seal, a common capital comprised of transferable shares and carrying special liability. It is called an artificial person because of its very nature that natural fairness only can give birth to a company and law alone can put it to an end. The main economic consumption wherefore companies evolved is the operations and...If you want to get a abundant essay, raise it on our website: OrderCustomPaper.com

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