A Company is called an artificial person because _________.
A. It does not have the shape of a natural person
B. It cannot be used in the court of law
C. It is invisible and intangible
D. It exists only in contemplation of law
Answer: Option C
Solution(By Examveda Team)
A Company is called an artificial person because It is invisible and intangible. Corporation is an artificial being, invisible, intangible and existing only in contemplation of law. It has neither a mind nor a body of its own.This Question Belongs to Commerce >> Business And Commerce
It exists only in contemplation of law
Correct option is D)
The incorporation of a company is an artificial entity recognized by the law as a legal person that exists independently with rights and liability. This means that a company is treated as a separate person from its participants. It is owned by at least one shareholder and managed by at least one director.
It exists only in contemplation of law
Correct option is D)
The incorporation of a company is an artificial entity recognized by the law as a legal person that exists independently with rights and liability. This means that a company is treated as a separate person from its participants. It is owned by at least one shareholder and managed by at least one director.