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Forms of Business Organisation-2 — OCM STD 11 Commerce — Question

Gujarat BoardEnglish MediumSTD 11 CommerceOCMForms of Business Organisation-23 Marks
Question
How does company hold artificial personality ?
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Answer

  • According to company law, company is an individual. This individual is not live but it is an artificial person.
  • It cannot speak or move but like a living person it can purchase assets, borrow money and like a living person it can file a suit in the court under its name.
  • It can become insolvent. In this way, company is an articial person created by company law.

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