Legal Dictionary of Pakistan

perpetual succession

The continuous succession of a corporation - despite changes in shareholders and officers - for as long as the corporation legally exists. "As a general rule, the words perpetual succession,' as used in charters, often in connection with a further provision limiting the period of corporate existence to a certain number of years, mean nothing more than that the corporation shall have continuous and uninterrupted succession so long as it shall continue to exist as a corporation, and are not intended to define its duration." 18 Am. Jur. 2d Corporations § 69, at 883 (1985).