Perpetual succession, Business Law and Ethics

Perpetual Succession:

                     According to the Concise Oxford Dictionary, "perpetual" means, inter alia, "applicable, valid, for ever or for indefinite time" while "succession" means "a following in order". When used in relation to registered companies the phrase "perpetual succession" denotes a process whereby a company's membership changes in a definite order prescribed by the company's articles and goes on for an indefinite period of time until the company's liquidation. The "perpetual succession" occurs because a company and its members are separate persons and so the company's legal life is not terminated by a member's death.

Posted Date: 1/12/2013 2:02:50 AM | Location : United States







Related Discussions:- Perpetual succession, Assignment Help, Ask Question on Perpetual succession, Get Answer, Expert's Help, Perpetual succession Discussions

Write discussion on Perpetual succession
Your posts are moderated
Related Questions
Provisions Which Prevent Capital Going Out Of The Company: In Trevor v Whitworth (1887) Lord Watson stated: "Paid-up capital may be diminished or lost in the course of the

Question: Consider the following formulation of Kant's Categorical Imperative: ‘Act only to that maxim by which you can at the same time will that it should become a universal

Question 1: a. Social responsibility is the duty to do what is best for the good of society. Critically analyze the ethical obligations of a business are toward the society.

United Nations Convention on the Law of the Sea The rights over the sea were extended by the United Nations Convention on the Law of the Sea (UNCLOS) adopted in 1982. The UNCLO

Executed Consideration - Types of Consideration Actually Executed consideration is constituted through something done by the plaintiff because to a promise made with the defen

Q. Fair Work Ombudsman options? The following are a range of potential options for the FWO to mitigate phoenix activity. These options recognise that the FWO does not currently

Determine the example of a relational contract A characteristic macro example of a relational contract with a strong lock-in effect is membership of a currency community. Self-

QUESTION 1 Domain names deliver the address of companies on the Internet and are equivalent to the business address in the physical world. As more and more companies utilize th

Q. Show the Criminal conduct definition of phoenix activity? Master Builders argued that the definition of phoenix activity should focus on the existing sections of corporation

Q. Pooling of assets and liabilities? In 2004 the Corporations and Markets Advisory Committee proposed that assets and liabilities of companies be aggregated and creditors paid