Key Legal Characteristics and Attributes of a Corporate Body
A corporate body is an artificial juridical person created by law, possessing distinct rights, obligations, and duties. Key attributes of corporate bodies include corporate personality, limited liability, perpetual succession, separate property ownership, capacity to sue and be sued, contractual rights, and the use of a common seal. Governed by Nepal's Company Act 2063, these features establish a company as an independent legal entity, ensuring stability, shareholder protection, and business continuity. This article delves into these legal characteristics, emphasizing their importance in the successful operation and growth of corporate entities.