Question

1. Which of the following is the most permanent type of business organization?

Answer 1

1) The most permanent type of business organization is a Corporation.   
     It is a company or group of people or an organisation authorized to act as
     a single entity (legally a person) and recognized as such in law. 
2) Quasi-contracts are based on the theory of Equity.   A quasi-contract is a
     fictional contract that was created by courts to promote equitable
     treatment. It is not an actual, legally-binding document, but instead a legal
     substitute for a contract that is formed to impose equity between two
     distinct parties. 
3) The object of the contract must be lawful.. The object of a contract must
     be lawful when the contract is made, and possible and ascertainable by
     the time the contract is to be performed.