Juridical institution of capital business corporations can be divided into 4 fundamental rules: 1) the rule of separate legal personality of corporation, 2) the rule of majority of capital or votes, 3) limited liability of shareholders, and 4) unlimited discretion of directors. The corporation is introduced as big discovering and marvelous instrument of modern capitalism and even some elements of that are described more important than invention of electricity and steam engine. Searching in philosophy of law, we concluded that business corporations are modern concepts created by state via spontaneous order and night watchman theories outlined by economic and political philosophers. They don’t accept government in economics and law and we cannot explain and justify the legitimacy of corporate law.
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Abedi Firouzjaee, E. (2019). PHILOSOPHY OF CORPORATE LAW, ARE CORPORATIONS CREATED BY SPONTANEOUS ORDER OR CONSTRUCTIVE ORDER?. Law Quarterly, 49(1), 69-86. doi: 10.22059/jlq.2018.230845.1006875
MLA
Abedi Firouzjaee, E. . "PHILOSOPHY OF CORPORATE LAW, ARE CORPORATIONS CREATED BY SPONTANEOUS ORDER OR CONSTRUCTIVE ORDER?", Law Quarterly, 49, 1, 2019, 69-86. doi: 10.22059/jlq.2018.230845.1006875
HARVARD
Abedi Firouzjaee, E. (2019). 'PHILOSOPHY OF CORPORATE LAW, ARE CORPORATIONS CREATED BY SPONTANEOUS ORDER OR CONSTRUCTIVE ORDER?', Law Quarterly, 49(1), pp. 69-86. doi: 10.22059/jlq.2018.230845.1006875
CHICAGO
E. Abedi Firouzjaee, "PHILOSOPHY OF CORPORATE LAW, ARE CORPORATIONS CREATED BY SPONTANEOUS ORDER OR CONSTRUCTIVE ORDER?," Law Quarterly, 49 1 (2019): 69-86, doi: 10.22059/jlq.2018.230845.1006875
VANCOUVER
Abedi Firouzjaee, E. PHILOSOPHY OF CORPORATE LAW, ARE CORPORATIONS CREATED BY SPONTANEOUS ORDER OR CONSTRUCTIVE ORDER?. Law Quarterly, 2019; 49(1): 69-86. doi: 10.22059/jlq.2018.230845.1006875