- This is an association of persons recognized as a legal entity
- It has an independent legal personality with rights and subject to obligations
- Such a corporation may be brought into existence registration, charter or statute .
and Examples include corporations sole, corporations aggregate, Registered, corporation, chartered corporation, statutory corporation.
- Characteristics of incorporated associations.
- Legal personality
- Limited liability
- Perpetual succession.
- Owning property
- Sue or be sued
- Capacity to contract
- These are associations of persons who come together to promote a common and lawful purpose.
- They have no legal existence of their own
- Property if any is jointly owned or held in trust for all members
- Members rights are enshrined in the constitution of the association.
- Members are liable for debts and other obligations of the association.
- The association can sue or be sued through its principal officers.
- In the event of dissolution members are entitled to share in whatever remains
- The law which regulates the association is the law which regulates the activities it engages in.
- Trade unions
- Political parties
- Welfare associations
- Staff unions.
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