Definition of Joint Stock Company

Account to H.L., Haney, “A joint stock company is a voluntary association of individual for profits, having a capital divided into transferable shares, the ownership of which is the condition of ownership.”

Justice Marshal has define a company “as a person, artificial, invisible, intangible and existing only in the eyes of law. Being a creation of law, it possesses only those properties which the charter of its creation confers upon it, either expressly or as incidental to its very among the most important of which are immortality and individuality.”

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