What is the legal definition of a company?

Definition of Company. In the legal sense, a company is an association of both natural and artificial persons (and is incorporated under the existing law of a country). In terms of the Companies Act, 2013 (Act No. 18 of 2013) a “company” means a company incorporated under this Act or under any previous company law [Section 2(20)].

When does a company become a legal entity?

Upon incorporation, a company becomes a legal entity with perpetual succession and a common seal. Since the company has no physical existence, it must act through its agents and all contracts entered into by its agents must be under the seal of the company. The Common Seal acts as the official signature of a company.

Which is the best legal service to get?

The best online legal service for most people is definitely Rocket Lawyer or Incfile. Online legal services can be crucial. Lawyers help with everything from setting up your business entity to settling disputes and reviewing contracts.

Why do you need an online legal service?

That’s why online legal services are so helpful. With just a few clicks, you can access legal documents, find an attorney nearby, set up your business, and seek legal counsel. Whether you need an attorney now or you’re planning for the future, I’ll show you how to find the best online legal service for your business and personal needs.

Can a business be sold as a going concern?

Until the business is transferred to the purchaser on the settlement date, it is crucial that the vendor: ensure the business continues to run as a going concern. This obligation may be included as a pre-completion obligation in your SOBA. Not fulfilling this obligation may lead to a breach of contract. 3. Taxation Advice

What do you need to know about legalvision?

About LegalVision: LegalVision is a tech-driven, full-service commercial law firm that uses technology to deliver a faster, better quality and more cost-effective client experience. The majority of our clients are LVConnect members. By becoming a member, you can stay ahead of legal issues while staying on top of costs.