Difference in some of these common words

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Querist : Anonymous

Querist : Anonymous (Querist)

19 November 2012 please describe the basic defination of these words. I've littlebit confusion regarding these simmilar words.

1.company
2.corporation
3.Body Corporate

Ajay Mishra

Ajay Mishra (Expert)

19 November 2012 Hi

All three words have the same meaning.Generally Company is used in Asian Country and Corporation is synonyms of Company. Body corporate is also known as company.

The Companies Act has used an excluding definition for body corporate, defining it as "Body corporate" or "corporation" includes a company incorporated outside India but doesnot include- a. a corporation sole b. a co-operative societyregistered under any law relating to co-operative societies c. any other body corporate (not being a company company as defined in this Act), which the Central Govt. may, by a notification in the official gazette, specify in this behalf.

In American English the word corporation is widely used to describe incorporated entities, especially those that have a large number of shareholders, and in respect of which, ownership can be transferred without the need for the consent of other shareholders. In British English and in the commonwealth countries, the term public company is more widely used to describe the same sort of entity while the word company encompasses all incorporated entities. In American English, the word company can include entities such as partnerships that would not be referred to as companies in British English as they are not a separate legal entity.

Querist : Anonymous

Querist : Anonymous (Querist)

20 November 2012 Thanks sir.
Now the point on "corporation sole".
Please explain.
Can you explain the above paragraph with a example.

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