Certainly, the concept of a company as a juristic person, also known as a legal person or legal entity, is a fundamental principle in corporate law. It means that a company is treated as a distinct entity separate from its individual members (shareholders or owners). This principle has several key implications: 1. Separate Legal Existence: A company, once incorporated, is recognized as having its own separate legal existence. It can enter into contracts, own property, sue and be sued, and engage in various legal activities in its own name. This is distinct from the individuals who own or manage the company. 2. Limited Liability: One of the primary advantages of forming a company, especially a corporation, is the concept of limited liability. Shareholders are generally not personally liable for the company's debts and legal obligations. The company itself is responsible for its own debts, which helps protect the personal assets of its members. 3. Rights and Duties: Just like...
What is Conceptual Position of Federalism ? Challenges before the Indian Federalism and Nature of Indian Constitution. Explain Cooperative Federalism.
Conceptual Position of Federalism Federalism is a political system where power is divided between the central government and the constituent units (usually states or provinces) that make up the country. The central government and the constituent units have their own distinct powers, and neither can interfere with the other's constitutional responsibilities. At its core, federalism represents a balance between centralization and decentralization. The central government has certain powers that are essential for governing the country as a whole, such as defense, foreign policy, and national security. At the same time, the constituent units have certain powers and responsibilities that are better handled at the local level, such as education, healthcare, and law and order. Federalism is often seen as a way to promote democracy and diversity. By devolving power to the constituent units, federalism allows for greater representation and participation in the political process. It a...