Beruflich Dokumente
Kultur Dokumente
NOTE
Please do not consider this write-up as notes. This is a brief update about todays class. You
can use it as a ready-reference to recollect what we discussed in class and as a base for
further study and preparation of notes. Please use other books and resources to substantiate
and add to the following discussion. Any claim that anything in the exams was not
mentioned in these updates shall not be entertained.
We had a brief (or I do say a very brief) discussion on the theories as to the nature of
Artificial Legal Person. There are two main theories regarding this: A) Fiction Theory; and B)
Realist Theory. However, before going into the analysis of these theories, we briefly talked
about the reason as to the necessity of having the idea of Artificial Legal Person [I
discussed this in Section A and not in Section B. I would have discussed this in section B
also, but it looked as if everyone was about to fall asleep. So, I decided otherwise].
The following table can be used to understand the two theories and the conflict between
them:
THEORY
FICTION
MAIN FEATURES
ASSOCIATED
SCHOLARS
SCHOLARS
ANALYSIS
Corporations
Kelson,
mere fictions.
Since it is difficult Holland
to determine the
collective will of
the
members/sharehol
ders who form the
amd
company,
the
same cannot be
said
to
be
perceived in the
same
as
other
ALPs. Therefore,
it can be said that
a corporation is a
figment
of
imagination.
REALIST
is
more
than a fiction,
They believe that the
purpose for which the
company is established
reflects the collective will
of its shareholders.
For
example,
the
memorandum
association
of
that
the
and
in
this