perpetual succession

perpetual succession
The continued existence of a corporation until it is legally dissolved. A corporation, being a separate legal person, is unaffected by the death or other departure of any member but continues in existence no matter how many changes in membership occur.

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  • Perpetual succession — is the continuation of a corporation s or other organization s existence despite the death or an exit from the business of any owner or member, or any transfer of stock …   Wikipedia

  • perpetual succession — That continuous existence which enables a corporation to manage its affairs, and hold property without the necessity of perpetual conveyances, for the purpose of transmitting it. By reason of this quality, this ideal and artificial person remains …   Black's law dictionary

  • perpetual succession — noun 1. : the capacity of a corporation to have continuous enjoyment of its property so long as it is legally in existence 2. : the perpetual existence of a corporation …   Useful english dictionary

  • perpetual succession — Continuous and uninterrupted succession of a corporation so long as it shall continue to exist as a corporation. 18 Am J2d Corp § 65. In the case of a life insurance company, an existence which may run beyond the period for which the corporation… …   Ballentine's law dictionary

  • perpetual — I adjective adsiduus, amaranthine, ceaseless, chronic, constant, continuous, deathless, endless, enduring, eternal, ever abiding, everlasting, fixed, having no limit, immortal, imperishable, impossible to stop, incessant, indelible,… …   Law dictionary

  • succession — The devolution of title to property under the law of descent and distribution. The act or right of legal or official investment with a predecessor s office, dignity, possession, or functions; also the legal or actual order of so succeeding from… …   Black's law dictionary

  • succession — Following another; succeeding to the rights of another, as where a new corporation which is a reorganization of another corporation takes the rights of the old corporation. 19 Am J2d Corp § 1524. The passing of property in possession or enjoyment …   Ballentine's law dictionary

  • perpetual existence of corporation — The immortality of a corporation as spoken of in the Dartmouth College Case. Dartmouth College v Woodward (US) 4 Wheat 518, 4 L Ed 629. See perpetual succession …   Ballentine's law dictionary

  • succession — suc·ces·sion /sək se shən/ n 1 a: the order in which or the conditions under which one person after another succeeds to a property, dignity, position, title, or throne the sequence of succession to the presidency b: the right of a person or line… …   Law dictionary

  • perpetual check — noun Date: circa 1909 an endless succession of checks to which an opponent s king may be subjected to force a draw in chess …   New Collegiate Dictionary

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