The inhabitants of Westernport in Allegany County, Maryland, within the corporate limits legally established from time to time are hereby constituted and continued a body corporate by the name of the "Mayor and Commissioners of Westernport" with all the privileges of a body corporate, by that name to sue and be sued, to plead and be impleaded in any court of law or equity, to have and use a common seal and to have perpetual succession, unless the Charter and corporate existence are legally abrogated.