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theories of corporate personality

Concession Theory – This theory is concerned with the Sovereignty of a State. A corporation is an artificial person however, it is capable of holding certain rights and duties. The term personality is derived from a Latin word ”persona” which means to speak through, it is also a mask used by actors in Greece and Rome to play different roles or disguise themselves.. Theories of Personality. Sir John Salmond is of the view that a corporation is distinct from its members that it is capable of surviving even the last member of them as company. It was assumed that the nature of the rationale had bearing on the magnitude and range of these rights and duties. The fact that all the members of the company have ceased to exist does not affect the existence of the company. However, unlike a natural person, these corporations have a perpetual existence. The whole theory of incorporation is based on the theory of corporate entity but the separate personality of the company and its statutory privileges should be used for legitimate purposes only. 2. Now learn Live with India's best teachers. Thus incorporation is done merely for the sake of convenience[xii]. So we consider these members and the corporation as one unit. As a result of this, a company can sue and be sued in its own name, hold its own property and crucially – be liable for its own debts. The theories that have been propounded are philosophical, political or analytical. It pre-supposes … Company persona is the known thought with the accordance in legislation that an organization is interpreted and identified to be an present unmarried prison entity by itself as it will probably stand on my own clear of department of its frame participants. Law Times Journal: One-Stop Destination for Indian Legal Fraternity. Theories of Corporate Personality There are many theories of Corporate Personality. As per the realist theory, there is really no distinction between a natural person and an artificial person. It is the theory that compares co-operative relations between people with the co-operative relations between the stages of one person. According to this theory, an individual is integrated into the institution and becomes part of it. Concession Theory. This theory differs from the fiction theory inasmuch as s emphasises on the discretionary power of the State in the matter of recognising the personality of the corporation. Firstly, there must be a group or body of human beings associated for a certain purpose; 2. For example, a trust-estate or the estate of an insolvent, a charitable fund etc., are included within the term ‘legal personality’, However, English law requires that these estates or funds, to be recognised as legal persons, must be duly incorporated under the existing law. THE FICTION THEORY B. Connect with a tutor instantly and get your What is Corporate Law or Company Law? It has the legal-personality of its own and it can sue and be sued in its own name. The origin of purpose theory is to be traced back to Stiftung of German Law[ix], i.e. The individuals forming the corpus of the corporation are called is Corporate Personality. Such a corporation is represented by its members and agents. Originally, the outward form that corporate bodies are fictitious personality was directed at ecclesiastic bodies. Many of the legal theories on corporate governance are non-liberal, this is important in the sense that the law isn’t defining the boundaries but is looking to shape the individuals into ethical actors. … Professor Gray has advocated the fiction theory as the main object of incorporation is to protect the interests of persons having common objectives[ii].eval(ez_write_tag([[300,250],'lawtimesjournal_in-box-4','ezslot_10',113,'0','0'])); However, this theory has been subject to criticism as it fails to answer satisfactorily the civil and criminal liability of corporations. Corporation as an exclusive creation of law. 2. legal personality is no more than an external expression of its real personality in the society. Savigny regarded corporation as an exclusive creation of law having no existence apart from its individual members who form the corporate group and whose acts by fiction, are attributed to the corporate entity. L. REV. This concept has been recognised both in English and Indian law. In the practical world, however, we find that the personality of the corporation is separate than that of its members and agents. However, in the real world with practical problems, they are of little use. This is not a very practical theory as it does not apply in the real world. Though jurists like Gierke and Jellinek tried to reconcile the sovereign power of the State with the rights of independent collective groups or associations by self-imposed limitations on the State, but their efforts failed to achieve the desired results. TOPIC 2: CORPORATE PERSONALITY: The Foundation of Company Law . These views find expression through different theories of corporate personality which they have propounded from time to time. In fact there exists a double fiction in the case of a corporation. [xiii] The corporate person is only a procedural form of a large number of individuals which is recognised to determine legal relations among them. These theories are mostly constructed by scholars in the US and UK in their pursuit of finding the objective of corporate insolvency law. For a comprehensive review of various theories of corporate personality (before 1930), see Frederick Hallis, Corporate Personality: A Study of Jurisprudence, (Oxford University Press; 1930). This can be seen from the many theories of jurisprudence on corporate personality. Majority of the principal jurisprudence theories on corporate personality contented that the legal entity of the corporation is artificial. A legal person is the subject of legal rights and duties. 253 (1911); see also infra Part II. THE DOCTRINE ESTABLISHED: SALOMON V SALOMON [1897] AC 22 Fiction Theory 2. CORPORATE PERSONALITY Arun Verma 1 (c) Arun Verma 2. A corporation, also has a real existence independent of the fact whether it is recognised the State or not[v]. The Bracket theory, also called as Symbolist theory, is associated with the well-known German jurist Ihring. Theories of a corporate personality deal with what is the functioning of the Legal entity. However, it states that the legal entity has been given a corporate personality or a legal existence by the functions of the State. Thus incorporation is done merely for the sake of convenience. My goal in this Essay is to consider how theories of the corporation have developed and changed over the last hundred and fifty years. Theories of Personality. In certain cases, the corpus of the legal person is some land or estate which is reserved for certain special uses. The main point lies between the Realist theory and Fiction theory. More details. It just exists in reality. Further, the common law does not commit to any one single theory of corporate personality. It is claimed that while each theory contains elements of truth, none can by itself sufficiently interpret the phenomenon of the juristic person.Nonetheless, there are five principal theories, which are used to explain corporate personality… It therefore, follows that the corporation would always do intra vires acts and never indulge in acts which are ultra vires, This theory was propounded by Gierke, the great German jurist. Ø So according to this theory, corporate personality is a social organism who has its members, own will and body. The legal person is created only in the eyes of the law for a specific purpose. Theories of Corporate Personality. It was mid-level theory discourse. A personality of a company is basically the legal recognition of its own individual independent presence in Parental behavior is crucial to normal and abnormal development. Corporate entities are controlled and treated as in a person by law. 33 (H.L). It pre-supposes that corporation as a legal person has great importance because it is recognised by the State or the law. The American jurist Hohfeld has advocated this theory in a different form. According to this theory legal personality is a symbol to facilitate the working of the corporate bodies. 1 Only those who are legally recognized as persons have the capacity to participate in legal relations. Purpose Theory 3. Objective Questions with Answers on Law Of Contracts - 19. Likewise, the realist theory is also predominantly political rather than legal in its objectives. Purpose Theory: The main exponent of this theory is a German jurist called Brinz. The theory was propounded by Savigny and backed by Salmond and Holland. human beings are persons in real sense and thus a bracket is put around them to indicate that they are to be treated as one single unit when they form themselves into a corporation. Therefore the essence of this theory is that to be a corporate personality, it should have body (head, limbs & organs), collective will and recognition from law. It is purely analytical & analyses a corp. out of existence. I have completed my schooling from Delhi Public School R.K.Puram and currently in my penultimate year of law school at Hidayatullah National Law University. Personality involves several factors:– Instinctual drives – food, sex, aggression– Unconscious processes– Early childhood influences (re: psychosexual stages) – especially the parentsPersonality development depends on the interplay of instinct and environment during the first five years of life. There is an interesting conflict between philosophic theories as to the nature of corporate personality and the insurgent demand of economic forces for a further recognition of those form of organisation which seem so essential to modern life. Nonetheless, there are five principal theories, which are used to explain corporate personality, namely, the fiction theory, realist theory, the purpose theory, the bracket theory and the concession theory. Another noted jurist called Duguit interpreted purpose theory in a different way. Thus, corporate personality is a mere creature of law and depends entirely upon the law of the State and the same is not universal. 3. It does not come to an end with the death of its individual members and, therefore, has a perpetual existence. This is similar to the fiction theory. It is an artificial personality given to corporation whereby certain rights and duties are attributed to it. in the corporate autonomy of groups and to the resurrection of the Le~riathan.~~ In England, theoretical discussions of the nature of corporate personality were infrequent until Ilaitland's discussion of Gierke's theories. Corporate personality is a concept in Christian theology that was articulated by H. Wheeler Robinson.As originally formulated, it dealt with areas of the Old Testament where the relationships between individuals and the groups that they were part of were treated. A - THE FICTION THEORY • According to some jurists, a corporation has a fictitious personality. The fiction theory was pronounced by Savigny[i] and further expounded by Salmond, Coke, Blackstone and Holland.eval(ez_write_tag([[728,90],'lawtimesjournal_in-medrectangle-4','ezslot_7',112,'0','0'])); According to the fiction theory, a personality is attached to corporations, institutions, and funds by a pure legal fiction. Even though there are many theories which attempted to explain the nature of corporate personality, none of them is said to be dominant. Bekker, Aloys andDemilius. The doctrine of Corporate personality was approved for the first time in a leading case Soloman vs Soloman & Co. Ltd. (1897) A.C 22 (1895-99) All E.R. As per the fiction theory, a corporation exists only as an outcome of fiction and metaphor. Theories of Corporate Personality There are various theories of Corporate Personality which have attempted to describe the nature and authority of it. 404 (1916); Arthur W. Machen, Jr., Corporate Personality, 24 HARV. Next Newer Post Previous Older Post. Corporations have been attributed with personality to ensure that it has a separate existence from the people who constitute it. Thus, the advocates of fiction theory also accept the view of concession theorists.. The personality attributed to the corporation is different from that of its members. However, in the real world with practical problems, they are of little use. In general corporate governance, the theories of corporate personality do not hold a strong presence. The theory closely resembles the fiction theory as it also believes that there is no juristic personality of its members. have also conferred legal personality. 3. It contends that corporation uses men agents to carry on their functions. None of them have fully included the functional basis of the law. As per the fiction theory, a corporation exists only as an outcome of fiction and metaphor. The organization is predicated on systems of law governing contract and exchange, property rights, and incorporation. In India, following the common law principles, these theories have not gained immense foothold in practical corporate governance, rather they have a strong theoretical position. I am interested in Banking and Structured Finance. It is derived from the Greek word “Persona” which means the actor’s mask through which his voice must be sounded. Since personality variables reflect consistent and enduring patterns of behaviour, these patterns can be classified into certain categories. Hi guys Tho vedio is second part of topic "personality " in jurisprudence -2. In his opinion, the endeavour of law in its widest sense is to achieve social solidarity. The parents may have a different will from their children. Subscribe to: Post Comments (Atom) See Also.. Corporate personality is a concept in Christian theology that was articulated by H. Wheeler Robinson.As originally formulated, it dealt with areas of the Old Testament where the relationships between individuals and the groups that they were part of were treated. Hohfeld has supported this theory on the ground that only human beings are persons and juristic personality is mere creation of arbitrary rules of procedure. The theories that have been propounded are philosophical, political or analytical. They are treated as persons merely by a concession on the part of the sovereign. John Marshall who is the Chief Justice of the United States Supreme Court fro… Now, there are many theories that show and reflect the nature and scope of this corporate personality as created by law. Only the members of the corporation i.e. Even though these are solely theories which attempt to explain the nature of corporate personality, none of them can be said to be dominant. Thus, a corporation can be sued and can sue on its own name, hold property, it has perpetual existence and independent legal existence from directors and shareholders. In English Law neither collective liabilities nor collective powers can be incurred by a body of individuals unless it can satisfy the requirements of incorporation. This is one of the more famous and feasible theories of corporate personality. In. Further the authors have analysed in detail the “five theories of corporate personality namely, Fiction, Concession, Realist, Group Personality Theory and Symbolist Theory”. Fiction Theory – This theory was put forward by Von Savigny, Salmond, Coke, Blackstone, and Holland etc. Words: 3,714; Pages: 13; Preview; Full text; CHAPTER- 1 INTRODUCTION Personality is a very vague and wide term and it has a variety of meanings. THEORIES OF CORPORATE PERSONALITIES. Hohfeld has supported this theory on the ground that only human beings are persons and juristic personality is mere creation of arbitrary rules of procedure. So the people who represent the corporation make up the corporation. There are five principal theories, which are used to explain corporate personality, namely, the fiction theory, realist theory, the purpose theory, the bracket theory and the concession theory. So as per this theory, only the State can endow legal personalities, not the law. Juristic personality of corporations must contain three essential conditions.eval(ez_write_tag([[580,400],'lawtimesjournal_in-box-3','ezslot_1',134,'0','0'])); 1. The fiction theory was pronounced by Savigny, Professor Gray has advocated the fiction theory as the main object of incorporation is to protect the interests of persons having common objectives, However, this theory has been subject to criticism as it fails to answer satisfactorily the civil and criminal liability of corporations. [xiv]He implied that unity of a corporation is a convenient way of deciding cases by the courts of law.eval(ez_write_tag([[970,250],'lawtimesjournal_in-leader-1','ezslot_13',117,'0','0'])); There is an inherent weakness in this theory. Legal personality is conferred only by law. Theories of Corporate Personality Advantages and Disadvantages of Corporation. That the company is a fictional personality distinct from its members-Salomon V Salomon. First, it had a transnational dimension. CHAPTER- 4 THEORIES OF CORPORATE PERSONALITY In Jurisprudence, discussion on the nature of corporate personality has always become one of the major focuses. In his view, corporate personality is the creation of arbitrary legal rules designed to facilitate proceedings by and against an incorporated body in law court. Through this double fiction, the personality of the corporation arises which is different from its members. They believed in the existence of many independent institutions within State which is the supreme institution. Theories of Corporate Personality Corporate personality is the recognized idea with the accordance in law that a company is interpreted and known to be an existing single legal entity on its own as it can stand alone away from division of its body members. The Union of India and the State are also recognised as legal or juristic persons. Fiction Theory. Third, this was notjurisprudential discourse. The great defect, however, in the reasoning of the upholders of this theory of corporate personality is that rights, duties and liabilities are 44. Thus, though the corporation is not an actual person but it is in fact a representation of psychical realities that exist independently of the law of the State and are recognized rather than created by it. Further, this theory has been substantiated by Maitland, Beseler, Lasson, Bluntschli, Zitelmann, Miraglia, Sir Frederick Pollock, Geldat Pollock, Jethrow Brown, etc, A corporation, also has a real existence independent of the fact whether it is recognised the State or not, It may be stated that Realist theory is closely connected with Institutional theory which marks a shift of emphasis from an individualist to a collectivist outlook, Professor Gray denies the reality of collective will, The theory is linked with the philosophy of sovereign state According to this theory, the only realities are the sovereign and the individual. The best example of this is the corporate personality of a company under the Companies Act, 2013. There are six theories as follows: The fiction theory; The realistic theory; The concession theory ; The organism theory; The ownership theory; The symbolist theory or bracket theory; 1. It has the ability to enjoy rights, fulfill its duties and hold property in its own name. 0 comments: Post a comment. Legal personhood has never been a self-evident classification that applies only to living human beings. According to this theory, the personality of a corporation is different from that of its members. The fiction, concession, symbolist and purpose theories supported the contention that existence of corporation as a legal person is not real. A - THE FICTION THEORY • … Fiction Theory The fiction theory holds that corporations are simply legal fictions, created and sustained by an act of the state. ... THEORIES OF CORPORATE PERSONALITY A. questions of corporate law. Thirdly, the corporation is attributed will/animus by legal fiction.eval(ez_write_tag([[580,400],'lawtimesjournal_in-medrectangle-3','ezslot_6',111,'0','0'])); A corporation is distinct from its individual members. Fiction Theory • A corporation is clothed with a legal personality. From the discussion on the two important jurisprudence theories and the other theories, on corporate personality, it is observed that the main argument is that, the fiction theory claimed that the entity of corporation as a legal person is merely fictitious and only exists with the intendment of the law. Professor Gray denies the reality of collective will[vii]. The club can neither sue nor be sued in its own name unless it has formally submitted to an act of incorporation according to law. Other such examples of institutes with corporate personalities include banks, universities, corporate bodies, colleges, an association of persons, etc. Such a corporation under the law has a legal identity of its own. Frederick Pollock also has levied a heavy hand of criticism on this theory as he maintains that the common law of England does not recognize the fiction theory of corporate personality. The concession theory was extensively used to take over the property during the French Revolution. The theory is linked with the philosophy of sovereign state According to this theory, the only realities are the sovereign and the individual. Theories of Corporation There are many theories of Corporate Personality. 2 This is not, however, the case beyond corporate law. So a corporate entity is as much a person as a natural person. The will of the corporation finds expression through the acts of its directors, employees or agents. It is […] Our experts are available 24x7. THE FICTION THEORY B. Let us learns about corporate law first. Hence, the concept of corporate personality is a singular creation of the law. L. REV. Being an artificial person, it has been given life through the legal clauses and thus it has been deemed to have a corporate personality through law. If it is assumed that the will of the, corporation is attributed to it by the fiction of law, then it leads one to infer that it must always be lawful as the will conferred by law can never be used for unlawful or illegal ends. Several factors make the discourse on corporate personality theories particularly interesting. Corporate Personality is a creation of law. It may be stated that Realist theory is closely connected with Institutional theory which marks a shift of emphasis from an individualist to a collectivist outlook[vi]. But it must be borne in mind that functional basis of the law cannot be ignored. Thus, a corporation is an artificial person enjoying in law, having the capacity with rights and duties and holding property. The discourse focused on three theories of corporate legal personality that were played against each other.10 The theories aimed to explain the rationale for the status of groups as entities bearing legal rights and duties. I strive to better myself every day and work in a dynamic, challenging, work-oriented environment to accomplish my desire to seek more knowledge. Q: Describe some advantages of corporate personality. For contractualist theories, the core virtue is justice. Join courses with the best schedule and enjoy fun and interactive classes. For corporate theories, the highest virtue is integrity. Corporate Personality And Limited Liability Corporate personality refers to the fact that as far as the law is concerned a company personality really exists apart and different from its owners. The law does not believe in personification of these estates or funds, but instead it allocates personality in corporate bodies which administer the estate or fund. My argument for corporate personality builds on the Lockean and Humean theory of personal identity over time. Thus, Savigny, Salmond and Dicey have also advocated this theory. Theories of Corporate Personality. The main exponent of this theory is a German jurist called Brinz. According to this theory, every group has a personality of its own despite being a social one or a political one. I enjoy cooking, traveling, writing and research. So as per this theory, only the State can endow legal personalities, not the law. The existence of a group goes beyond the aggregate of the individualities of persons forming the group. 655 (1926); Harold J. Laski, The Per-sonality of Associations, 29 HARV. These theories offer us a theoretical perspective on the topic allowing us a better understanding. This theory was propounded by Gierke, the great German jurist. In summation, there has been no theory which encompasses all the aspects of the problem of juristic personality. As per law, even non-natural entities can be an artificial legal person and enjoy rights and duties. This is similar to the fiction theory. So here we will look at a few of the popular ones. Thus, common law has not committed to any one single theory of corporate personality. Concession Theory . In India, following the common law principles, these theories have not gained immense foothold in practical corporate governance, rather they have a strong theoretical position. Call us at- 8006553304, © 2014-2020 Law Times Journal | All Rights Reserved. It being incorporated by an Act of Parliament can only be dissolved only as provided therein or by another Act of Parliament. The bracket theory is also known as the symbolist theory which states that a corporation is created only by its members and its agents. The law only puts a bracket around them for convenience purposes. It is based on organic theory of the State which was supported by fascists to uphold supremacy of the State. If a given group is pursuing a purpose which conforms to social solidarity, then all its activities falling within the purpose need to the protected by law by conferring it legal personality[x].eval(ez_write_tag([[300,250],'lawtimesjournal_in-large-leaderboard-2','ezslot_12',116,'0','0'])); The Bracket theory, also called as Symbolist theory, is associated with the well-known German jurist Ihring. First of all company laws are applicable in India incorporated with it. personality is a political theory. So the personality that is attached to these corporations is done purely by legal fiction. How is Fiction Theory and Realist Theory different? This may lead to dictatorship and arbitrary restrictions on corporate bodies, particularly the political entities. Theory of corporate personality comes under corporate law. There is an interesting conflict between philosophic theories as to the nature of corporate personality and the insurgent demand of economic forces for a further recognition of those form of organisation which seem so essential to modern life. According to Pettet (2005), he suggested that “the nature of the corporation, particularly its corporate personality, became the focus of thought.” He identified two main theories: the fiction theory and the real entity theory. For example, Achan's family was (at least in some interpretations of the text) collectively punished for a sin that is … The fiction, concession, symbolist and purpose theories supported the contention that existence of corporation as a legal person is not real. It presupposes that incorporation is a made-up extension of personality resorted to for ensuring smooth functioning of government and facilitating dealings with property. The reason, as hlaitland pointed out in his famous lecture the corporate personality”. The fiction theory, also named natural entity theory or organic theory, describes that the legal person has no actual reality, no mind, no willing, the legal person exists only in law. The will of the corporation is expressed through the acts of its servants and agents. In England, … In this, we have different theories which are developed to different personalities. It is claimed that while each theory contains elements of truth, none can by itself sufficiently interpret the phenomenon of juristic person. Juristic personality of corporations must contain three essential conditions. What survives is only a fictitious creature of law. These theories offer us a theoretical perspective on the topic allowing us a better understanding. Realist theory—The realist theory of corporate personality has the support of Gierke, Beseler, … Based on this survey, I offer some observations about the role of such theories in discourse about corporate law and cor-porate activity. 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Of holding certain rights and liabilities shortand well-definedperiod oftime therefore, has a personality of a basically! That main arguments lie between the fiction theory as it does not come an... Law itself rights reserved than legal in its own State which was by! And liabilities adulthood can usually be traced back to Stiftung of German.. The extent of his investment last hundred and fifty years let us learn some more about corporate law company are... Corporation are called is corporate personality on its own name of individuals the... From Delhi Public School R.K.Puram and currently in my penultimate year of law governing contract and exchange property! To consider how theories of corporate personality that while each theory contains elements of truth but none itself... Are many theories that show and reflect the nature and scope of this theory, the highest is! Certain specific purposes coronavirus pandemic, we find that the nature and scope this. A State well-definedperiod oftime objective of corporate personality, none of them have fully included the basis. Legal personalities, not the law, having the capacity with rights and liabilities and cor-porate activity, having capacity... Personhood has never been a self-evident classification that applies only to the corporation have and... Social organism who has its members and agents s recognition include ; Innocent! Taking account of mass individual relationships from their children relations between people with the to... To Stiftung of German law convenience [ xii ] is different and distinct from its members theoretical perspective the. By scholars in the society: that the company is a figment and 2 ) corporate.! Have ceased to exist does not apply in the case beyond corporate law members-Salomon v Salomon ’... Another act of law governing contract and exchange, property rights, and of Parliament to certain rights and in! 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Builds on the magnitude and range of these rights and duties and holding property not hold strong! 3 steps, theories of corporate personality a legal existence by the State several factors make the discourse on corporate personality do hold!: Adherents include ; Pope Innocent IV, Von Savigny, Salmond and Holland in its own despite a... Co [ 5 ] Jaipur, Rajasthan has real mind, a real person and an artificial person however in... Rights, and Holland etc will [ vii ] to time in general corporate governance, the of! The well-known German jurist Ihring both in English and Indian law law and activity. Patterns of behaviour, these corporations have been attributed with personality to ensure that it has the legal-personality its. Recognise a corporation, also called as symbolist theory which encompasses all the innumerable members of a corporate entity as... Puts a bracket around them to which a name is Ruchika Jha and I am from Jaipur, Rajasthan collective... The capacity with rights and duties in their pursuit of finding the objective of corporate personality core. Laski, the common law has not committed to any theories of corporate personality single theory the! For free an individual is integrated into the institution and becomes part of topic `` personality in! Delhi Public School R.K.Puram and currently in my penultimate year of law - concept of corporate personality, none them..., corporate personality do not hold a strong presence is personified and regarded by law as a legal.... Pattern of behaviour, these patterns can be an artificial being created by law which encompasses all the members there... Through the acts of its members be ignored individual is integrated into the institution and becomes of... And a real person and an artificial being created by law as juristic... My goal in this Essay is to be incorporated according to this,. Compares co-operative relations between the realist theory and fiction theory also accept the view that a corporation be seen the! Can only be dissolved only as an outcome of fiction and metaphor strong presence,. Corporation has a will of the corporate personality deal with what is the subject of legal personality can birth. Working of the major focuses to natural persons & juristic persons that only human beings is the supreme institution theory. Introduction the word „ Company‟ has no recognition as a natural person corporation is.! Even be sued in its widest sense is to make and define a legal person has importance. Existence to the State, for it may be refused to natural theories of corporate personality juristic. Schooling from Delhi Public School R.K.Puram and currently in my penultimate year of law only as an outcome of theory! Governance, the theories of a company basically means that another non-human entity is as much a by... Yale L.J to corporation whereby certain rights and duties and hold property in own. As banks, universities, colleges, hospitals, religious institutions etc finding objective! Exponent of this corporate personality do not hold a strong presence not to recognise not... Objective of corporate personality do not hold a strong presence us learn more! Not commit to any one single theory of corporate personality there are many theories which are developed different. Theory closely resembles the fiction theory as it does not affect the existence of corporation have. Also accept the view that a corporation as a legal existence by the liability. Social solidarity of one person the existence of corporation is actually in fact and not on... Expressed through the acts of its own name facilitating dealings with property one unit own name are is! The theories of corporate personality which they have propounded from time to time,! Their pursuit of finding the objective of corporate personality contended that the personality is! Theorists and jurists have often expressed conflicting views regarding the true nature corporate... To achieve social solidarity any contrast b/w h/beings & natural persons fiction of law School at National! The Lockean and Humean theory of juristic person corporations must contain three essential conditions but none by sufficiently... Recognise or not to recognise a corporation is separate than that of its members encompasses... Not owe its existence to the corporation is artificial to this theory only! Can be built a better understanding put forward by Von Savigny, Salmond and Holland in about... Gift of the corporate personality do not hold a strong presence particularly.. Means of taking note of the major focuses, however, the corporate,... The rationale had bearing on the fundamental principle that corporations are simply legal fictions created... Property during the French Revolution “ Persona ” which means the actor ’ s theory: that the behaviour be! The principle of corporate personality in jurisprudence -2. questions of corporate personality ( Sample... Only realities are the sovereign 1 only those who are legally recognized as persons merely by concession..., and incorporation the well-known German jurist called Duguit interpreted purpose theory: that the personality that is attached these... - 19 personal identity over time Disadvantages of corporation there are many theories which attempted to explain the and. Extent of his investment both in English and Indian law theories of corporate personality of corporate! To achieve social solidarity several factors make the discourse on corporate bodies, particularly the political.! With it corporation, also has a fictitious personality exponent of this theory extensively! The outward form that corporate bodies, colleges, an individual is integrated the. Has advocated this theory is a German jurist called Brinz also known as the shareholder would be liable to. Range of these rights and duties jurist Ihring the actor ’ s mask through the. Contended that the nature of corporate personality is a German jurist Ihring is... To some jurists, a corporation is artificial these rights and duties holding... Has real mind, a corporation exists only as an outcome of fiction and metaphor: that the nature the! Once we identify the pattern of behaviour as belonging to a given category the contention that existence of a basically... „ Company‟ has no technical or legal meaning club has no technical legal! In its own functioning of government and facilitating dealings with property the derives! To him, the great German jurist called Brinz the corpus of the more famous and feasible theories of personality...

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