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Theory of Financial Liability - A Comparative Study by Dr. Mansour Hatem Al-Fatlawi
JOD
Get it by 5 Aug | Order in 5 Hours 10 Minutes
This book addresses the theory of financial liability in its first chapter, defining it as the sum of a person's rights and debts that can be valued in money, viewed as a legal collection. Accordingly, rights and claims without monetary value are not considered part of financial liability. The traditional theory of financial liability yields two results: first, that financial liability is a legal collection, and second, its connection to personality. The book then moves to the modern theory of financial liability, where proponents like "Bruns" argue that it is not based on personality but on its allocation for a specific purpose. Thus, financial liability is not the personality itself, nor is it derived from or linked to it, but rather a collection of rights and duties linked by their allocation to a specific purpose, not by their belonging to a specific person. Proponents of this theory aimed to dispense with the idea of a legal person, limiting legal personality to natural persons only and considering the legal person a mere fiction contrary to reality. This theory deduces the possibility of financial liability existing without being tied to a person, the possibility of a single person having multiple financial liabilities, and the possibility of its transfer. However, criticism has been directed at the goal of the allocation theory and its derived conclusions.