0 like 0 dislike
14 views
asked in Corporate Law by

1 Answer

0 like 0 dislike
answered by

In company law, perpetual succession is the continuation of a corporation's or other organization's existence despite the death, bankruptcy, insanity, change in membership or an exit from the business of any owner or member, or any transfer of stock,etc.

As a company is an entity in its own right, it has a perpetual succession. Member’s death or transfer of share does not affect the existence of a company. As an abstract legal person a company cannot die but its existence can be brought to an end through winding up.  

Welcome to LegalVersity.com Q & A, where you can ask questions and receive answers from other members of the community.
...