Separate legal entity means that is a different legal existence to individual members or stockholder who as natural person of company. A company may sue and be sue in its own name and holds property separately to its shareholders, directors and officers. They do not own the assets of the company and personally liable for its debt and obligation. In many aspect, company are treated as artificial person under the law. As an artificial person, the company is subject to many of the same rights and obligations under the law as a natural person (Dheeraj, 2009).
13 Sept 2011
Free Law Essay - Company Law Entity
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