The third chapter aims to tackle the question of whether a juristic person can be considered to have or lack legal capacity, which presumes an answer to the question of what is or can be considered reason and will of a juristic person. The way a legal personality is discerned nonetheless differs for natural and juristic persons.
Indeed, in the case of natural persons, our senses allow us to determine who a natural person is and what legal conduct can be attributed to him (or her). Such an approach cannot be used in the case of juristic persons.
Accordingly, for juristic persons, answers to both aforesaid questions need to be derived from the applicable law. However, even the applicable law cannot explain why an entity other than a human being is considered a person or why only specific conduct that is described by the applicable law can be considered legal conduct of a juristic person.
Therefore, we must analyse the conclusions which follow from theories of legal persons as concerns their legal acts (conduct). It then has to be shown, in particular, how such theories explain the substance and creation of juristic persons' reason and will, and how it is at all possible for a juristic person to possess its own reason and will and, accordingly, to be deemed to enjoy legal capacity in a sense similar to natural persons.