This article describes the differences between Corporate Sole and Corporate Aggregate.
Corporate Sole
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A corporate sole is an incorporated series of successive persons.
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Examples: President of India, Prime Minister, District Collector, Governor, King of England, King of Nepal, etc.
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“Corporate sole” is a fictitious person but filled by a man naturally created by god.
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A corporate sole is a legal person occupying it only one person at a time.
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These are the public offices.
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The primary object of corporate sole is to rule the country and it has “executive” character.
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It is more permanent than corporate aggregate.
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A legal person holding “corporate sole” shall have the properties – one belonging to the state and another to him. The property belonging to state shall be developed to his successors. The property belonging him shall devolve to his legal heirs.
Corporate Aggregate
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A corporate aggregate is an incorporated group of co-existing persons.
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Examples: all private limited companies, all public limited companies, multi-national corporations, public undertaking corporations.
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“Corporate aggregate” is a fictitious body and created by the policy of men. They may also be called as “body’s Politique”.
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A corporate aggregate has several members at a time.
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These are the private offices.
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The primary object of corporate aggregate is to do business.
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It is lesser permanent than corporate sole.
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Similarly, corporate aggregate also shall have its own properties, debts, with which the share holders are not concerned. The share holders are concerned corporation / company subject to the extent of their share amount, not exceeding that. They have their own properties. The debts of the company are not having any connection with their own properties. The debts, profits, losses. Etc. are related to the share amount only.