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 ?
Legalization of documents is not required for legal entities if they are member states of the relevant international treaties and agreements to which Kyrgyzstan belongs.
Under the new legislation, legal entities must be either registered or licensed.
These legal entities explained that they warned of dealing with the Kurdistan region's oil, noting that "there is coordination by the Ministry of Oil with international offices to monitor the purchase of oil by the Kurdistan Regional Government" to keep Iraq's oil wealth.
Newcomers to the register included 147 individuals, 162 others who control legal entities and 132 legal entities.
Those who have not yet settled liabilities based on previously concluded deals on leasing state-owned farmland, as well as legal entities against which bankruptcy proceedings have been launched and non-profit organizations have no right to bid.
The effects of an overly complex structure are often overlooked or underestimated, opening the door for misstatements, incorrect application of trading models, missed filing deadlines and costly duplicate legal entities that complicate operational complexity and transaction structuring.
Meanwhile, investors can offset their investment loss from their gains, over a period of five years for legal entities and three years for individual investors.
As a business owner, you should use legal entities to limit your personal exposure.
Thus can multiple legal entities comprise a single reporting entity.
Leaving aside the specialized types of legal entities, such as an agricultural company or credit union or similar, there are three main forms of profit seeking legal entities--the Individual enterprise, private limited liability company and public limited liability company.
The new bank is licensed to take deposits from corporate clients, transfer them to its account on a return basis and manage accounts of legal entities.
According to REACH Ready, a wholly owned subsidiary of the Chemical Industries Association that provides REACH consultation services, Only Representatives are EU-based legal entities that are considered "competent" to carry out the REACH registration process on behalf of companies based outside the EU.