Legal Definition and Related Resources of Joint Stock Company

Despite the presence of the word company , a joint stock company is not an incorporated body. It is an association of individuals for the purpose of profit , possessing a common capital contributed by the members composing same, such capital being commonly divided into shares of which each member possesses one or more and which are transferrable by the owner . Differs from a partnership in that the death or withdrawal of one or more members does not effect dissolution and the shares can be bought and sold without affecting the integrity of the concern. It is thus said to be midway between a corporation and a partnership. See Rocky Mountain Stud Farm Co. v Lunt, 151 P. 521, 46 Utah 299. Also Lyon v Denison, 45 N. W. 358, 80 Mich. 371.

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Joint Stock Company in Historical Law

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