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 following theories focus on various aspects of personality development, including cognitive, social, and moral development. Several factors make the discourse on corporate personality theories particularly interesting. Theories of personality duane schultz the american university brookscole publishing company monterey, california a division of wadsworth publishing company, inc. For contractualist theories, the core virtue is justice. Theories, objectives and principles of corporate insolvency. Theories of personality 11th edition rent 9785652958. The fiction theory claimed that the entity of corporation as a legal person is merely fictitious and only exist with the intendment of the law. Many theories have been put forward to explain the origin of property and give justification. We have some theories that explain an individuals personality. Personality an individuals characteristic pattern of thinking, feeling, and acting, across time and situations. Majority of the principal jurisprudence theories on corporate personality contended that the legal entity of the corporation is artificial.
Theories of corporation there are many theories of corporate personality. Theories of corporate personality corporations the crown scribd. Limited liability and theories of the corporation larry e. The fourth edition is theoryoriented and has been reorganized into four parts examing theories of psychodynamics, personality structure, growth and perceived reality, and learning. Each dwarf has a distinct and dominant personality trait. Theory of corporate personality international journal of science. Reconceptualizing the theory of the firm from nature to. Has the common law received the fiction theory of corporations. The respective advantages and limitations of the theories approaches are then identified. There are various theories which are developed to show the nature of personality. They also believed that personality is the subjective possibility of a rightful will.
Personality changes little after about the age of 30 normal adult extension of the sense of selfautonomous interests warm human interactions emotional security and selfaccepting realistic perception, skills and assignments selfobjectification with insight and humor unifying philosophy of life highest level of personality integration. Personality development has been a major topic of interest for some of the most prominent thinkers in psychology. The historic background of corporate legal personality yale law. The following are theories of property 1 natural law theory grotius, pufendorf, locke and blackstone are supporters of. Dec 30, 20 the acceptance of the corporate personality of a company basically means that another nonhuman entity is recognized to assume a legal entity. First, it is shown that corporate personality is a political theory.
It is the theory that compares cooperative relations between people with the cooperative relations between the stages of one person. These theories could be either political which talks about the relationship between the state and group residing within the state or it could be a philosophical explanation which is pertaining to existence of those persons. It is intended to make the teaching and learning process a more interactive and productive endeavor. The acceptance of the corporate personality of a company basically means that another nonhuman entity is recognized to assume a legal entity. Different jurists propounded different theories to explain the nature of corporate personality, but the bestknown theories of a corporate personality are as follows 1 fiction theory.
These theories have either a political undertone in so far as they attempt to project the nature of relationship between the state and the groups existing within the. This thesis aims to rescue the tradition of corporation theory from the implications of ontological and ethical individualism, which form important tenets of. Development of the corporate personality inventory. Report theories on corporate personality please fill this form, we will try to respond as soon as. Theories of corporate personality law treats a corporation aggregate and a corporation sole as persons. A theory is a simple model of reality that helps us understand, explain, predict and deal with reality. These involve the fiction, concession, real entity, nexus of contract, aggregate and corporate social responsibility theories, inter alia. Jurisprudence notes theories of juristic personality or. Theories of corporate personality essay 4403 words. Law courts have, in exceptional cases, cracked the shell of corporate personality and have looked upon a corporation and its members from a different point of view. 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. It was rare for legal discourse in that era to have such a dimension. Theories of corporate personalities legal service india.
Corporate personality is an entrenched legal principle of the english company law. Personality and its theories welcome students to your todays lesson on personality. Pdf theories on corporate personality free download pdf. From the discussion on jurisprudence theories of corporate personality, it is observed that main arguments lie between the fiction and realist theories. Theories of corporate personality free download as word doc. Rent theories of personality 11th edition 9785652958 and save up to 80% on textbook rentals and 90% on used textbooks.
See ron harris, the transplantation of the legal discourse on corporate personality theories. Ribstein,limited liability and theories of the corporation, 50 md. Law courts have, in exceptional cases, cracked the shell of corporate personality and have looked upon a corporation. To answer this question, many prominent theorists developed theories to describe various steps and stages that occur on the road of personality development. Oct 20, 2019 to answer this question, many prominent theorists developed theories to describe various steps and stages that occur on the road of personality development. In the study of jurisprudence, the separ ate legal personality of corporation is based upon theories, which. Theory of corporate personality naveen singh thakur1, divya singh2 1, 2post graduate, llmcorporate laws, chandigarh university, punjab, india abstract. This module is the first part of the course on governance and development. Theoretical systems evolve as people try to account for individual differences in. This can be seen from the many theories of jurisprudence on corporate personality.
There are many writers who argue that a corporation has a physical existence having its own will or mind. Jan 01, 2008 campbell traces the cultural evolution of personality from these theories to modern times. The transplantation ofthe legal discourse on corporate. Theories of personality view of the causes and motives underlying personality and personality development 1. Until the sixth century the word was used to denote the part played by a man in life. These theories are mostly constructed by scholars in the us and uk in their pursuit of finding the objective of corporate insolvency law. On the other hand, there are jurists who consider the personality of a corporation a mere myth or fiction. From german codification to british political pluralism and american big business, 63 wash. The discourse focused on three theories of corporate legal personality that were played against each other. These involve the fiction, concession, real entity, nexusofcontract, aggregate and corporate social responsibility theories, inter alia.
The classic models provide a direct or indirect basis for much contemporary research and application. About the nature of their personality different theories have been advanced. It also includes new chapters on eysenck, bandura, kelly, and social learning theories. The principle of lifting the corporate veil has found statutory recognition in certain provisions like sections 45, 147, 212, 247 and 542 of the companies act. Corporate theory is currently in what has been phrased the neoclassical period, in which variants of all three major theories of corporate personality are. Traditional theories of the nature of the corporate personality although recognition of the separate legal personality of the corporation with existence as a juridical entity, separate from its shareholders, goes back centuries, there has been worldwide contro. The principal objective of our research is to study and criticise the different theories of corporate personality and the concepts under it. You do not need to be a psychologist to speculate about personality. This research paper essentially seeks to study and criticise the different theories of corporate personality considering the jurisprudential conflicts. The fiction, concession, symbolist and purpose theories supported the contention that existence of corporation as a legal person is not real. Based on this survey, i offer some observations about the role of such theories in discourse about corporate law and corporate activity. Jurisprudence theories of legal personalities law notes by vijay. It is intended to make the teaching and learning process a. Generating explanations for human behavior has been a pastime since the beginning of time.
Corporate sole and corporate aggregate are treated as persons by law. Iv theories of property jurists have differed in their views regarding the origin of the property. Jurisprudence notes theories of juristic personality or corporate personality. Theory of corporate personality naveen singh thakur1, divya singh2 1, 2post graduate, llm corporate laws, chandigarh university, punjab, india abstract. It is often credited with the principle of separate legal entity of the corporation distinct from the members. Theories of personality, 10th edition solutions manual and test bank by richard m. Mar 12, 2020 download theories on corporate personality. But, in exceptional cases, that veil of corporate personality can be lifted.
The history of personality theory and assessment 5 the environment in which a child is raised determines intelligence, temperament, and other personality characteristics of that child. Corporate personality is one of the characteristic of the company under which company is said to be a legal or artificial person. This theory is based on the belief that man is encouraged more by. This theory is based on the belief that man is encouraged more by unforeseen forces than the conscious and logical thought. In the study of jurisprudence, the separate legal personality of corporation is based upon theories, which. You must use your judgment to decide the best course of action and the leadership style needed for. The doctrine of lifting the corporate veil is invoked when the corporate personality is found to be opposed to justice, convenience or interest of revenue. My goal in this essay is to consider how theories of the corporation have developed and changed over the last hundred and fifty years. In this research paper the authors have gone through various books and internet sources to present all the theories of corporate personality in one concentrated form. What you do in one situation will not always work in another. A the fiction theory according to some jurists, a corporation has a fictitious personality.
Personality and its theories management consulting courses. The transplantation of the legal discourse on corporate. According to kelsen, personality is only a technical personification of a complex of norms, a focal point of imputation which gives unity to certain complexes of rights and duties. Simply, the personality is the typical behavior of a person in which he responds to the given situations. Jun 09, 2010 the respective advantages and limitations of the theories approaches are then identified. France and germany against the fiction theory of corporate per. Our personalities make us unique, but how does personality develop.
Nov 22, 2012 this research paper essentially seeks to study and criticise the different theories of corporate personality considering the jurisprudential conflicts. Theories of corporate personality essay 4404 words cram. In this essay, these theories are viewed through the prism of critical analysis. The first objective of the present article is thus to elucidate the legal mechanisms through which the eminently legal concept of the corporation is capable of generating two seemingly contradictory 8 max radin, supra note 2. The personality refers to the distinct traits, thoughts, feelings, actions and characteristics of an individual that differentiates him from other individuals. The following are theories of property 1 natural law theory grotius, pufendorf, locke and blackstone are supporters of this theory. Second, it had intensity over a shortand welldefinedperiod oftime. Theoretical systems evolve as people try to account for individual differences in behavior. Theories of personality, 10th edition solutions manual and. The crucial questions which this discussion has thrown up are these. Corporate personality is a concept in christian theology that was articulated by h. In our earlier section we have appreciated the need for understanding the individual factors like personality to appreciate and comprehend ones behaviour in the context of organizations. 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.
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