Perpetual succession

A company enjoys continuous or uninterrupted existence and its life is not affected by the death, insolvency, lunacy, etc.,of its member or directors. Member may come and go but the company goes on for ever, so long as it is not wound up. Being a creature of law, a company can be dissolved only through the legal process of winding up. It is like a river which retains its identity though the part composing it continuously change. Even if all the member of the company are dead, the company will still continue to exist.

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