The tradition of giving finds itself in every religious text across the world. There seem to be few other principles which are so globally accepted. Whether it is the Zakat, the Islamic practice of giving and consequent self-purification, or the Dāna, the practice of giving in both Hinduism and Buddhism, the concept of gratuitous transfer of wealth to the less privileged strikes a common chord between the three most popular religions in Asia.
This paper seeks to first identify the traditions relating to charity within religious texts such as the Hadith, the Manusmriti and the Tipataka. In the absence of institutions, including the concept of the corporation, during the time when such religious texts were envisaged, the directions mandating charity are by default, applicable to individuals. This paper goes on to examine the creation of the modern-day corporation through the lens of independent corporate personality as well as a nexus of contracts.