5/8/2011 Powers of a company s SA:same capacity,rights,powers and privileges as a natural person. s 16(2):perpetual succession-existence not affected by death,incapacity or bankruptcy of members. s 17:hold land in its own name. Sue (and be sued)in its own name. Enter into contracts and commercial transactions in own name. 19 Liabilities of a company Company is itself liable on contracts. Company can commit torts (where acts of its directors/employees are attributed to the company). Company can commit certain crimes(again based on attribution of acts of directors/employees). 105/8/2011 10 Powers of a company • s SA: same capacity, rights, powers and privileges as a natural person. • s 16(2): perpetual succession - existence not affected by death, incapacity or bankruptcy of members. • s 17: hold land in its own name. • Sue (and be sued) in its own name. • Enter into contracts and commercial transactions in own name. 19 Liabilities of a company • Company is itself liable on contracts. • Company can commit torts (where acts of its directors/employees are attributed to the company). • Company can commit certain crimes (again based on attribution of acts of directors/employees). 20