Theories Of Corporate Personality: A Critical Analysis

Dr. Shailesh Kumar Singh, Assistant Professor, Department of Law, DDU Gorakhpur University, Gorakhpur

Mr. Satyam Singh, Research Scholar, Department of Law, DDU Gorakhpur University, Gorakhpur

INTRODUCTION

The word “person” is derived from the Latin word “persona” which meant a mask worn by actors playing different roles in the drama. Until the sixth century the word was used to denote the part played by a man in life. Thereafter, it began to be used in the sense of a living being capable of having rights and duties. Many writers have restricted the use of term personality to human being alone, because it is only they, who can be subject matter of rights and duties and, therefore, of legal or juristic personality. But it must be stated that the term personality has a far wider connotation in law and includes Gods, angels, idols1 and corporations2 etc, although they are not human beings. On the contrary, there may be living persons in olden times such as slaves, who were not treated as persons in the eyes of law, because they were not capable of having rights and duties and the slavery is now completely abolished in all civil societies of the world. Likewise, in Hindu law an ascetic (Sanyasi) who has renounced the world ceases to have any proprietary rights and his entire estate is passed on to his heirs and successors and his legal personality completely lost.