Perpetual succession limits the scope of an individual
Abstract
Purpose
This paper aims to clarify the relationship between perpetual succession and individual perpetual succession is the continuation of a company’s or other association’s presence in spite of the demise, liquidation, insanity, change in enrollment or a way out from the matter of any proprietor or part, or any exchange of stock.
Design/methodology/approach
The paper opted for a study using the related case studies. Moreover, this paper has all the necessary examples that are required for perpetual succession.
Findings
The paper provides that any adjustment in participation of a company does not affect the status of the company, death, insolvency, insanity and so forth of any member from a company does not influence the progression of the company. Thus, the life of the company does not rely on the life of its member directors. It may proceed forever, independent of continuity of its members or directors except in case of winding up or liquidation of a company.
Originality/value
This paper is to study how perpetual succession limits the scope of an individual.
Keywords
Citation
Pattnaik, S. (2016), "Perpetual succession limits the scope of an individual", International Journal of Law and Management, Vol. 58 No. 3, pp. 281-298. https://doi.org/10.1108/IJLMA-07-2015-0040
Publisher
:Emerald Group Publishing Limited
Copyright © 2016, Emerald Group Publishing Limited