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2019 (11) TMI 1396 - SC - Indian LawsNatural person v/s artificial legal person - rights and duties conferred on artificial legal persons - legal personality and the physical corpus on which legal personality is conferred - HELD THAT:- A legal person possesses a capability to bear interests, rights and duties. Salmond makes a crucial distinction between legal personality and the physical corpus on which legal personality is conferred. Legal persons, being the arbitrary creations of the law, may be of as many kinds as the law pleases. Legal personality is not human nature. Legal personality constitutes recognition by the law of an object or corpus as an embodiment of certain rights and duties. Rights and duties which are ordinarily conferred on natural persons are in select situations, conferred on inanimate objects or collectives, leading to the creation of an artificial legal person. An artificial legal person is a legal person to the extent the law recognizes the rights and duties ascribed to them, whether by statute or by judicial interpretation. Salmond presciently notes that the rights and duties conferred on artificial legal persons ultimately represent the interests and benefits of natural persons.
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