Match List-I with List-II.

Choose the correct answer from the options given below:

(a) - (iii), (b) - (ii), (c) - (i), (d) - (iv)

Artificial person: A company is created by law. Though, it has no body and no conscience, it still exists as a person, having a distinct personality of its own.

Separate legal entity: A company has an independent status, different from its members. This implies that a company cannot be held liable for the actions of its members and vice-versa. Company has a distinct entity separate from its members.

Common seal : Being an artificial person, company cannot sign the documents. Hence, it uses a common seal on which its name is engraved. Putting the common seal on papers, is equivalent to that of signatures of a human being, making them binding on the company.

Transferability of shares: No shareholder is forever wedded to the company. Subject to certain conditions, the shares are freely transferable. The private companies do impose some restrictions on the transfer of shares.