THE CONCEPT OF ARTIFICIAL LEGAL ENTITY AND LIMITED LIABILITY IN ISLAMIC LAW

Abstract

Many orientalists, among others Joseph Schacht , are of the view that Islamic Legal System does not recognize the concept of â€œJuristic Personâ€ i.e. Corporations, Universities and Organizations. This is our point of departure and we attempt to highlight in this paper that Islamic Law recognizes â€œJuristic Personâ€. Admittedly though the term â€œJuristic Personâ€ is not being mentioned specifically by the classical texts of Islamic Jurisprudence, it is totally untrue that Islamic Legal System does not recognize the concept of â€œJuristic Personâ€:; the non-existence of nomenclature does not negate the existence of the concept as early as Islam itself. The Shariâ€™ah rulings and principles concerning â€œJuristic Personâ€ can be found in the Holy Quran and Sunnah of Prophet Muhammad S.A.W. The classical scholars of Islamic Legal System had earlier discussed and developed an equivalent doctrine which formed a valid ground for the concept of â€œJuristic Personâ€ which forms a part of Islamic Legal System.

The first part of this paper will focus on the concept of â€œlegal person of the natural personâ€ which is closely attributed to the legal person of human beings. The second part will highlight the Islamic classical texts exposition of the concept of â€œJuristic Personâ€.

This paper will further discuss few situations which had been laid down by the jurists that gave rise to the rights and liabilities of the â€œJuristic Personâ€, which actually manifest the beauty and treasures of the Islamic Laws in advocating its flexibility and organic nature to any future commercial concerns it might encounter.

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APA

Research, A. (2018). THE CONCEPT OF ARTIFICIAL LEGAL ENTITY AND LIMITED LIABILITY IN ISLAMIC LAW. Afribary. Retrieved from https://tracking.afribary.com/works/the-concept-of-artificial-legal-entity-and-limited-liability-in-islamic-law

MLA 8th

Research, Afri "THE CONCEPT OF ARTIFICIAL LEGAL ENTITY AND LIMITED LIABILITY IN ISLAMIC LAW" Afribary. Afribary, 03 Feb. 2018, https://tracking.afribary.com/works/the-concept-of-artificial-legal-entity-and-limited-liability-in-islamic-law. Accessed 07 Nov. 2024.

MLA7

Research, Afri . "THE CONCEPT OF ARTIFICIAL LEGAL ENTITY AND LIMITED LIABILITY IN ISLAMIC LAW". Afribary, Afribary, 03 Feb. 2018. Web. 07 Nov. 2024. < https://tracking.afribary.com/works/the-concept-of-artificial-legal-entity-and-limited-liability-in-islamic-law >.

Chicago

Research, Afri . "THE CONCEPT OF ARTIFICIAL LEGAL ENTITY AND LIMITED LIABILITY IN ISLAMIC LAW" Afribary (2018). Accessed November 07, 2024. https://tracking.afribary.com/works/the-concept-of-artificial-legal-entity-and-limited-liability-in-islamic-law

THE CONCEPT OF ARTIFICIAL LEGAL ENTITY AND LIMITED LIABILITY IN ISLAMIC LAW

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