Briefly explain the following terms in brief. Perpetual successio… - Vidyadip

Question

Briefly explain the following terms in brief.
Perpetual succession.

✓

Answer

Perpetual succession: A company being a creation of the law, can be brought to an end only by law. It will only cease to exist when a specific procedure for its closure, called winding up, is completed. Members may come and members may go, but the company continues to exist.

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