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TeachMeFinance.com - explain Company historic definition...
Company -- In the ordinary acceptation of the word company
(referring to a joint-stock company) means the same as
corporation. A business company (corporation) is an artificial
body, created by law, composed of individuals united under
a common name, with power of succession, so that changes in
the individuals composing it do not affect the body itself ; in
law it is treated as a person.
The capital stock of a company (that is, a joint-stock company)
is divided into shares of equal amount, as, for instance,
a company whose capital stock of $100,000,000 is divided into
shares of $100 each.
If the financial statement of a stock company is published
in such form as to misrepresent its real condition any one
who is misled to his damage may recover his loss from the
directors whether he is a stockholder or not.
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