Perpetual succession, Business Law and Ethics

Assignment Help:

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.


Related Discussions:- Perpetual succession

Essence of arbitration as a substitute to litigations, Question 1: Arbi...

Question 1: Arbitration, a form of alternative dispute resolution, is a legal method for the resolution of disputes outside the courts, where the parties to a dispute refer it

Domestic agency of necessity, Domestic Agency of Necessity However a m...

Domestic Agency of Necessity However a married woman that has been actually or constructively deserted through her husband has authority on common law to take necessities at c

Administration of the law, ADMINISTRATION OF THE LAW: Furtherly a sour...

ADMINISTRATION OF THE LAW: Furtherly a source of law is the origin of the rule that legal principle or constitutes a law.  Conversely the phrase 'sources of England law' that'

Name the hallmark events in the evolution of nuclear law, Some of the hallm...

Some of the hallmark events in the evolution of nuclear law are: a.   1945 - The United States tested its first nuclear bomb. b.   1945 - Hiroshima and Nagasaki were attacke

Unity and continuity of domicile, Unity and continuity of domicile Co...

Unity and continuity of domicile Conversely S.10 of the Act provides such no person may have more than one domicile at any one time and no person shall be deemed for be witho

Normative ethics theory, As you have already learned during your tenure at ...

As you have already learned during your tenure at Midwest Valueland (MV) and from exposure to business news, it is not unusual for leaders and managers to encounter ethical situati

What is codifying treaty, What is Codifying treaty Codifying treaty, me...

What is Codifying treaty Codifying treaty, meaning whereby, certain existing customary laws are codified in order to develop international law and make it binding between the s

Bidding process in specific circumstances, QUESTION 1 Section 39 of the...

QUESTION 1 Section 39 of the Public Procurement Act provides for cancellation of a bidding process in specific circumstances. State those circumstances and the implications of

Contractual capacity of persons of unsound mind, Contractual Capacity of Pe...

Contractual Capacity of Persons of Unsound Mind Furthermore a contract entered into through a person of unsound mind is voidable on his option whether it is proved that the ot

Legal protection of minorities, LEGAL PROTECTION OF MINORITIES: Accord...

LEGAL PROTECTION OF MINORITIES: According to decisions of English courts, companies are democratic organisations whose affairs are to be managed by the directors according to

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd