"ALTHOUGH COMPANY IS AN ARTIFICIAL PERSON , IT CAN STILL OWN PROPERTY AND ENTER INTO CONTRACTS ." DEFEND OR REFUTE

A company is an artificial person. It can own property and enter into contracts. All the assets used for the activities of the business is according to the law considered as owned by the company. The company can file suit against third parties and shareholders. Similarly  the shareholders and third parties can file suit against the company. A company can enter into contracts with third parties also.