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

Shares issued at a premium, Shares Issued At A Premium: A company may ...

Shares Issued At A Premium: A company may at times issue its shares at a price above their nominal value, i.e at a premium. This may be necessitated by the fact that the compa

Proceedings at meetings - held, Proceedings at meetings - Held: Held: ...

Proceedings at meetings - Held: Held: The resolution as passed was invalid since it was not the special resolution of which notice had been given.  Even the retention of 321 p

Legal profession - magistrates, Legal Profession - Magistrates However...

Legal Profession - Magistrates However the magistrate is an advocate that who is appointed through the Judicial Service Commission to the post of - The District M

"detriment" as consideration, "Detriment" as consideration  An example...

"Detriment" as consideration  An example of a 'detriment' that will legally suffice like the consideration for a promise is provided with the case of Carlill v. Carbolic Smoke

The role of expectation of winning the election, The role of expectation of...

The role of expectation of winning the election The role of expectation, of possibility of winning the election and of policy convergence on choice of agenda. In standard mode

Explain the theories of relational contracts, Theories of relational contra...

Theories of relational contracts These are long-term, non-legal or only incompletely legal agreements. The fact of incomplete foresight is taken into account by leaving gaps in

Procedural technicalities, Procedural Technicalities: In fact here the...

Procedural Technicalities: In fact here the procedure in the common law courts was highly technical and many good causes of action that were lost due to procedural technicalit

Technique of reference to arbitration, Technique of Reference to Arbitratio...

Technique of Reference to Arbitration Whereas a dispute may be referred to arbitration through like as; The parties in accordance by the agreement and The court wh

Explain the mode of acquisition - occupation, Explain the mode of acquisiti...

Explain the mode of acquisition - occupation The mode of acquisition is occupation. It is a means by which a State can acquire territory which belongs to no other entity. The o

What are the three main features of security, QUESTION 1 (a) What are t...

QUESTION 1 (a) What are the three main features of security? Define the different types of security that banks normally take to secure credit facilities (b) The Borrower Pro

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