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Business Studies

Statutory Corporations and Its Features

Which of the ...

Question

Which of the following function can a statutory corporation perform?

A

Acquire property on its own name

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B

Enter into contract

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C

Get sued or can sue

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D

All of the above

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Solution

The correct option is C All of the above
A statutory corporation is a body corporate and can sue and be sued, enter into contract and acquire property in its own name.

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Similar questions

Q. Which of the following statement is true and which is false?
P. A company being a body corporate can sue but cannot be sued in its own name.
Q. Members or shareholders are agents of a company. R. Members of a company cannot contract with company.
R. A partner's liability is always limited where as that of shareholder may be unlimited either by shares or a guarantee.

Select the correct the answer from the options given below-

Q. Statutory corporations are wholly owned by ______________.

Q. Which of the following is/are statutory corporation?

Q. The government company cannot enter into contract or acquire property in its own name.

Q. Statement X:
As a corporate person, the company is not entitled to own and hold property in its own name.
Statement Y:
Member can claim ownership of any item of the company's assets.
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