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The characteristics of the fractions can be the following

(1) Movable property – Shares are movable property which can be transferred in accordance with the procedure given in the Articles.

(2) Certificate of Shares A certificate is issued to the owner of the shares under the common seal of the company, which is called certificate of shares.

 

(3) The appropriate serial number or number is assigned a number for each fraction and it is known by that number.

 

(4) Recording in Register The shares of every shareholder are entered in the register of members of the company.

 

(5) In the Sale of Goods Act, shares are kept in the category of goods, which can be sold, bought and mortgaged.

 

(6) Monetary interest—Share of a shareholder of a company shall disclose the monetary interest in that company.

(7) Exchangeable deed—Part is not treated as an exchangeable deed.

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