What do you mean by company?Write briefly any two features of it.
A company is voluntary association of a group of individual incorporated under certain act for carry out the business for profit motive.It is known as legal artificial person created by law with perpetual succession and distinct entity.
A company has the following characteristics (features)
(a). Legal artificial person: A joint stock company is an artificial person created by law.It makes the company as human being. The company can purchase and sell its properties in its own name. It can sue and be sued by others in matter of dispute and conflict. As a real person, it can carry out lawful business activities and make other business contract.
(b). Transferability of share: The capital of the company is divided into small part i.e. share. A company can raise large amount of capital by selling such shares to the public . The shares issued by company are transferable except in case of private companies.
