Corporation's right of succession

A corporation is an artificial being created by operation of law, having the right of succession and the powers, attributes, and properties expressly authorized by law or incident to its existence.

This does not strictly refer to succession which is one of the modes of acquiring ownership of property. This simply means that the continued existence of a corporation is NOT affected by any change in the members or stockholders or by any transfer of shares by a stockholder to a third person. This is different from the rule in partnership where any change (death, incapacity, etc). in the parties will dissolve the partnership by operation of law.

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