Which of the following correctly states the meaning of 'pursuit' as used in statutes on corporations?

The relevant corporate action is formation: people establish a corporation to carry on a lawful enterprise, business, pursuit or occupation. In the description supplied,…

Choose your answer

authorising the destruction of corporations for the purpose of engaging in any lawful enterprise, business, pursuit, or occupation, is not restricted in meaning to a scheme for making money, but includes any object consistent with the interest of society

authorising the dissolution of corporations for the purpose of engaging in any lawful enterprise, business, pursuit, or occupation, is not restricted in meaning to a scheme for making money, but includes any object consistent with the interest of society

authorising the formation of corporations for the purpose of engaging in any lawful enterprise, business, pursuit, or occupation, is not restricted in meaning to a scheme for making money, but includes any object consistent with the interest of society

authorising the reconstruction of corporations for the purpose of engaging in any lawful enterprise, business, pursuit, or occupation, is not restricted in meaning to a scheme for making money, but includes any object consistent with the interest of society

Answer and explanation

Correct answer C

The relevant corporate action is formation: people establish a corporation to carry on a lawful enterprise, business, pursuit or occupation. In the description supplied, pursuit is broad enough to include a lawful object serving society even if it is not a money-making scheme. Destruction or dissolution would end the corporation instead of creating it to pursue that object.

Practice for these exams

All India Bar Examination (AIBE)

Subject revision
See pack details on LawMint.net

Try free demo Buy Practice Pack
UGC NET Law

Subject revision
See pack details on LawMint.net

View Practice Pack
IIT Kharagpur LL.M. Entrance

Subject revision
See pack details on LawMint.net

Try free demo View Practice Pack
AILET PG
CLAT PG

Subject revision for a passage-based exam
CUET PG Law (LL.M.)

Subject revision
Bihar Judicial Services

Subject revision

Which of the following correctly states the meaning of 'pursuit' as used in statutes on corporations?

Choose your answer

Practice for these exams

Related question papers

Related exam syllabi

Related questions in this topic