What is perpetual succession?

Answer 1

this principle states that-
*any change in membership of a company does not anyway affect the status of the company,
*death,insolvency,insanity etc. of any member of a company does not affect the continuity of the company.thus the life of the company does not depend upon the life of its members.
*it shall continue forever irrespective of continuity of its members or directors.except in case of winding up or liquidation of a company.

Answer 2

Perpetual succession refers to the continuation of the incorporated existence of a firm that is unaffected by the death of any of its owners or the transfer of its shares to a new entity. It can also be defined as the continuation of an organization's existence despite the death, bankruptcy, insanity, change in membership or an exit from the business of any owner or member, or any transfer of stock.