Features And Types

  Features of a Joint Stock Company:

1.Voluntary Association:Voluntary association no person because person can be compelled to become a member of a joint stock company.
 

2.Incorporate association:A joint stock company is an incorporated association of a person or company is not registered the liability of the member of an unicorporated association will be unlimited.
 

3.Specific objects:Is a formed for specific objects only and the specific objects for which it is formed are expressly stated in the constitution of association.
 

4.Artificial person created by law: Which as no physical or natural exsistence but in this eyes of law it is considered as an entity in the eyes it as to enjoy certain rights and privilages of a natural persons.
 

5.Separate legal entity:It can enter in to contacts acquire and dispose of properties sue and be sued in its own name.

6.Perpetual succession:A joint stock company has a perpetual successful it ahs continous exsistence it may be noted that this does not mean that a company can never come to end.

Tyes of companies:

1.Chartered Companies: A chartered company is a company which comes in to existence under a proclamation issued by a monarch or crown the document are of government.
 

2.Statutory Companies: Is a company which is incorporate under a special or separate act. This method of incorporation companies electricity, supply companies, water works.
 

3.Registered companies: Registered companies are companies which are brought in to exsisitence by registration with the register of companies undr the companies act.