Which of the following is correct with respect to Fiction Theory of corporate personality ........

Which of the following is correct with respect to Fiction Theory of corporate personality?

Fiction Theory says that only human beings can properly be called ‘persons’.

Same kinds of groups etc., are regarded as persons for certain purposes only by a fiction of law and they have no real personality.

Both (a) and (b)

None of these

Explanation:

- Option 1: Fiction Theory says that only human beings can properly be called ‘persons’.

- This is correct. Fiction Theory argues that only human beings are true persons. In legal terms, the status of “person” applies to humans because they possess consciousness and will.

- Option 2: Some kinds of groups etc., are regarded as persons for certain purposes only by a fiction of law and they have no real personality.

- This is also correct. According to Fiction Theory, corporations and similar entities are considered legal persons through a legal fiction, meaning their personhood is not "real" but rather a legal convenience.

- Option 3: Both (a) and (b)

- This is the correct choice because both statements align with the essentials of the Fiction Theory of corporate personality.

- Option 4: None of these

- This option is incorrect as both Option 1 and Option 2 describe aspects of the Fiction Theory.