Legal entity

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Legal entity

A person or organization that can legally enter into a contract, and may therefore be sued for failure to comply with the terms of the contract.

Legal Entity

A person who can enter a contract and therefore may be sued. A legal entity can be held liable for damages. It is important to note that a legal entity need not be an individual person. A corporation or other duly constituted organization is recognized as a person and, as such, is considered a legal entity.
References in periodicals archive ?
In premises security lawsuits, plaintiffs either allege that the commercial entity failed to provide adequate security or that it failed to eradicate conditions on the premises that foster criminal activity.
Under this approach, liability is limited to circumstances under which the commercial entity had good reason to believe criminal activity was likely.
Now it is a commercial entity that seeks to sell things in direct opposition to people already in the market.
Asked about the timing of the challenge, considering the Levy Board sold the business more than seven years ago, Steinberg said: "We are looking at it more closely now because selling a service for pounds 1 is one thing, but when it's set up as a commercial entity it's time for any sensible business to take a close look at grants and preferential loans underlying the creation of that business.
Table 2 illustrates selected financial statements effects concerning Jackson's investments assuming that Jackson is a commercial entity.
He has an outstanding track record in sales and marketing and building commercial operations and we look forward to his insights and leadership as we make our transition into a commercial entity.
In most "endorsement" arrangements, an exempt organization will license the use of its name and logo to a commercial entity for a royalty-generally a percentage of the licensee's gross revenues from the program; typically, the organization will also supply its mailing list to the licensee.
As the validation of Alfacell's RNase technology continues to move forward, the commercial operations must also move on a parallel track in order to achieve a successful transition to a competitive commercial entity.
This order represents an excellent example of a commercial entity capitalizing on the proven capabilities of facial recognition in identity management and verification solutions, and it also serves as a strong demonstration of the value proposition inherent in applying biometrics to address real-time identification issues in the business environment.

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