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Legal Entity
(redirected from Legal person)

    Also found in: Dictionary/thesaurus, Legal, Encyclopedia, Wikipedia 0.01 sec.
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.
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50 (3) of the Civil Code of the Republic of Lithuania states: where a legal person fails to perform his obligations due to acts in bad faith of a member of the legal person, the member of the legal person shall, in a subsidiary manner, be liable for the obligations of the legal person by his property.
Bad faith acts by a member of a legal entity--is it possible for a ... by Stuglyte, Zydrune / The Baltic Times (Riga, Latvia)
According to the amendment, a company has the same responsibility and could be prosecuted for any such offence committed by any person -- exercising managerial authority -- acting individually or as a member of the legal person, or entity.
Bill hopes to shut down corrupt companies by Cyprus Mail (Cyprus)
The five suspects are Helios Airways as a legal person and four officials, Andreas Drakos Helios Executive Chairman, Demetris Pantazis Managing Director, George Kikkides Flight Operations Director and Ianco Stoimenov Chief Pilot.
Suspects in Cyprus Helios case deny charges by Financial Mirror (Cyprus)
 
 
 
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