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    Rosee D.
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    A corporation has the right of succession and powers authorized by law or necessary for its existence. It is considered a juridical person under the law, with perpetual existence separate from its owners or members. The board of directors or trustees, depending on whether it is a stock or non-stock corporation, exercises the corporate powers and oversees its personal and real property.

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    A corporation has the right of succession and powers authorized by law or necessary for its existence. It is considered a juridical person under the law, with perpetual existence separate from its owners or members. The board of directors or trustees, depending on whether it is a stock or non-stock corporation, exercises the corporate powers and oversees its personal and real property.

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    6 views1 page

    Notes Business Law

    Uploaded by

    Rosee D.
    A corporation has the right of succession and powers authorized by law or necessary for its existence. It is considered a juridical person under the law, with perpetual existence separate from its owners or members. The board of directors or trustees, depending on whether it is a stock or non-stock corporation, exercises the corporate powers and oversees its personal and real property.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    Right of succession

    A Corporation is an artificial being created by operation of law, having the right of succession and the
    powers, attributes, and properties expressly authorized by law or incident to its existence. [Sec. 2, unless
    otherwise indicated, all sections cited herein are from RA 11232, or the Revised Corporation Code]

    Juridical Personality- attribute of corporation, the law sees you as if you exist as a person

    The existence of the corporation is now perpetual

    Incorporators- ang nag found

    stock corporation

    BOD -for stock corporation

    BOT - for nonstock corporation corporation

    The corporate powers will belong to the board of directors

    Personal property- can be moved from one place to another

    Real- cant be move (land, building)

    Corporation has its separate and distinct identity from its owners

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