Forms of Business Organisation — Business Studies STD 11 Commerce — Question
CBSE BoardEnglish MediumSTD 11 CommerceBusiness StudiesForms of Business Organisation1 Mark
Question
Briefly explain the following terms in brief.
Artificial person.
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Answer
Artificial person: A company is a creation of law and exists independent of its members. Like natural persons, a company can own property, incur debts, borrow money, enter into contracts, sue and be sued but unlike them it cannot breathe, eat, run, talk and so on. It is, therefore, called an artificial person.
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