Professional Documents
Culture Documents
Few Jural Matters: Mohammad Mamunur Rashid
Few Jural Matters: Mohammad Mamunur Rashid
Few Jural Matters: Mohammad Mamunur Rashid
• Kinds of Corporation:
Corporation aggregate: Corporation aggregate is a group or collection of persons who become
joint to accomplish a task. Even all members of this corporation die, it will remain live and continue
until death by law. Common example of this corporation is Municipal Corporation or registered
company.
Corporation sole:
Corporation sole is series of successive persons or individuals. It consists of only one person at a
time like king, postmaster general, Assistant Commissioner, or Prime Minister. When a person dies,
second one comes, fills in vacancy and performs functions. After death of office holder, for the
time being, office becomes dormant or inactive or goes in sleeping position and as well as other
person fills in the position, it become active.
Ownership
The Right to possess: It is the exclusive characteristics of the ownership. It may be
divided into two aspects i.e. the right to be put into exclusive control of a thing
and the right to remain in control.
The Right to use: Use, management and income fall within this. In narrower sense use
means owner’s personal use and enjoyment of the thing. It excludes the
management and income from this thing owned.
The right to manage: the right to manage refers the authority to decide how and by
whom the thing would be used.
The right to the income: it exclusively refers to the situation by which you can earn
income from the property you own.
The right to the capital: the right to the capital consists in the power to alienate the
thing and the liberty to consume, waste or destroy the whole or part it. Clearly it
has an economic aspect.
Ownrship
The right to security: the right to be owner of the property if he
wishes.
The right to incidence of transmissibility : this consists of two elements
i.e. transferability of the property to the successors of owner and
the transferability would not be determined in future date.