State and explain the two types of corporation.

      

State and explain the two types of corporation.

  

Answers


sharon
i. Corporation sole
Corporation sole is one which consists of one human member at a time, such member being the
holder of an office which is held in succession by one person at a time. Some corporations’ sole
are creatures of the common law, e.g. the office of a bishop. There cannot be more than one
bishop in a `diocese at the same time and when a particular bishop dies as an individual, his
office never dies and continues in existence with another bishop as a successor. Other corporation
sole are created by constitution or any Act of Parliament e.g. the Office of the President or the
Office of the Pubic Trustee.
ii. Corporation Aggregate
Most corporations are corporations aggregate. These consist of two or more members at the same
tire. Basically, there are two types of corporation aggregate operating in Kenya. These are
statutory corporations and registered companies.

sharon kalunda answered the question on April 12, 2019 at 11:47


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