106 THE LAW OF PERSONS of enjoying the same rights and of incurring the same liabilities as natural persons, on the other hand this general proposition receives a necessary limitation both from the mere fact of their artificial personality and also from the terms and objects of the incorporation in each particular case. Within these limits, a corporation may acquire, own, and possess property ; may contract ; may sue and be sued in Courts of law. But from the nature of the case it can only act through its agents ^°^t d • Pi'op^rly authorized, whether permanently or for the particular work in hand.^ Every corporation derives its being from the State, being created by a special act of the Legislature (or by the prerogative of the Crown) or under the provisions of a general Act, as is the case with how dis- most trading companies.^ It ceases to exist : {a) when it has been called into existence for a limited time and that time has expired ; (b) when all the individuals composing it (corporators) are dead — if only one member survives, it seems that the corporation still continues in his person ; (c) when the members (and in the absence of contrary provision the majority of members voting) resolve that the corporation shall be dissolved, provided that in the particular case such mode of dissolution is not forbidden or excluded by law or by the constitution of the corpora- tion ; [d) when any other event occurs which the law pre- scribes for the dissolution of the corporation in question. With these few words on the nature of corporations in general we leave the student to pursue the subject, as he may find desirable, in the law of the particular Colony which concerns him. ■ Goudsmit, vol. i, p. 69. ^ 1 Maasdorp, p. 270 ; Goudsmit, p. 71 : Bene corporatie is dan aanwezig, zoodra meerdere personen met een gemeenschappelijk en geoorloofd doel zich hebben vereenigd tot het scheppen van een van de bijzondere leden afgescheiden rechtspersoon en deze als zoodanig van staatswege is erkend, hetzij ten gevolge van eenen algemeenen
rechtsregel, hetzij telkens door eene bijzondere vergunning.