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प्रश्न
What do you understand by separate legal existence of a company?
लघु उत्तरीय
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उत्तर
Separate legal existence means that a company is legally recognised as a different entity from its members. It can possess property, form contracts, and sue or be sued in its own name. Shareholders are not personally liable for debts that exceed the value of their shares. This feature ensures stability because the company continues to exist regardless of changes in its membership.
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