ldquo If a corporation is treated as person this is due to the concession given to it on the part o...........

“If a corporation is treated as person, this is due to the concession given to it on the part of sovereign otherwise only individual is legal person” says the exponent of:

Purpose theory

Realist theory

Bracket theory

Concession theory

Explanation:

- Purpose Theory: Suggests that the legal personality of entities like corporations is recognized for fulfilling specific purposes determined by law.

- Realist Theory: Argues that entities like corporations are real and therefore deserve recognition as legal persons because they function in society.

- Bracket Theory: Proposes that corporate personality is just a convenient fiction and doesn't reflect the reality of the entity's existence.

- Concession Theory: Claims that a corporation is considered a person due to the concession or privilege granted by the state. It suggests that only individuals are naturally legal persons, while corporations derive this status from the state.

- Correct Answer: Option 4 - Concession Theory