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    jeans21's Avatar
    jeans21 Posts: 2, Reputation: 1
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    #1

    Jul 16, 2010, 09:33 PM
    A company ceases to exist if one of its owners should die?
    A company ceases to exist if one of its owners should die. Is this true or false. Explain your answer.
    morgaine300's Avatar
    morgaine300 Posts: 6,561, Reputation: 276
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    #2

    Jul 17, 2010, 12:53 AM

    This sounds like homework. We do not just answer homework for you. Please tell us what you think the answer is and we can let you know if you're correct.

    However, it kind of needs a condition, because the answer is different depending if it's a corporation or not. The word "owner" might imply non-corporation, but not really, because corporations can be one-person. And many textbooks start with one-owner corporations.
    jeans21's Avatar
    jeans21 Posts: 2, Reputation: 1
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    #3

    Jul 17, 2010, 09:16 AM
    Well no its not home work, its past papers that I am doing on my own in preparations for exam... anyway well I know that in a partnership if one of the owners die the partnership would cease to exist and therefor the company ceases to exist under that name however a new partnership can be formed. But I am not so sure about a company in general.
    pready's Avatar
    pready Posts: 3,197, Reputation: 207
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    #4

    Jul 17, 2010, 07:49 PM

    In a corporation if one onwer dies the company continues to operate.

    In a single owner company if the owner dies then the company would cease to exist.
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