characteristics or features of a company are discussed below-
(1) LEGAL PERSON: A company is a artificial legal person. A company is a separate legal entity from its owner.
(2) COMMON SEAL: A company has its a common seal, all the contracts entered into by the directors must be under the common seal of the company.
(3) VOLUNTARY ASSOCIATION: A company is a voluntary association of people. Law can neither compel a person to become its member nor to give up his membership.
(4) PERPETUAL SUCCESSION: A company is a perpetual succession. The continuity of the company doesn't affect by the death, lunacy or insolvency of the members.
(5) SEPARATE LEGAL ENTITY: A company is a separate legal entity from its owners or shareholders. It is an artificial legal person created by the law.
(6) LIMITED LIABILITY: The liability of the members of the company is limited up to shares held by them.
(7) TRANSFERABILITY OF SHARES: In the case of public company shares are transferable.
(1) LEGAL PERSON: A company is a artificial legal person. A company is a separate legal entity from its owner.
(2) COMMON SEAL: A company has its a common seal, all the contracts entered into by the directors must be under the common seal of the company.
(3) VOLUNTARY ASSOCIATION: A company is a voluntary association of people. Law can neither compel a person to become its member nor to give up his membership.
(4) PERPETUAL SUCCESSION: A company is a perpetual succession. The continuity of the company doesn't affect by the death, lunacy or insolvency of the members.
(5) SEPARATE LEGAL ENTITY: A company is a separate legal entity from its owners or shareholders. It is an artificial legal person created by the law.
(6) LIMITED LIABILITY: The liability of the members of the company is limited up to shares held by them.
(7) TRANSFERABILITY OF SHARES: In the case of public company shares are transferable.
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