Legal entity

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Related to Legal person: Natural person, Legal entity

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 ?
Responsibility of legal persons, not only is made possible through penalizing them, but also their properties may be used to compensate for the damages imposed to terrorism victims.
This essay proposes an ontological model in which a legal person such as a polity possesses natural unity from group properties that emerge in the self-organization of the human population.
As a rule, they will not be able to carry out an activity of issuing or distributing and/or buying back electronic money, nor will they be able to provide payment services on the territory of Romania except after constituting an electronic money institution, as a Romanian legal person (13).
The share of the legal person in the insurance companies is set at 40 % of the company's capital based upon an advance approval from the Insurance Supervision Commission.
The legal characteristics test is the most faithful to Congress's intent, because it allows courts to distinguish between ministries based on whether they are a separate legal person.
This was a meeting of lawyers and artificial intelligence experts interested in the rights of conscious computers and other entities likely to claim human rights but not currently recognized as legal persons.
The company's legal person shares were withdrawn from the STAQ market in June, however.
Own or related natural or legal person holding shares and other financial instruments in the company: 155,000 B-shares and 100,000 warrants with a maturity June 30, 2010, and 55,000 warrants with a maturity June 30, 2011, in New Wave Group
Such that applications filed by a natural person which do not contain the name and surname, citizenship number, address and signature of the applicant, or applications filed by legal persons which do not contain a commercial title/business name, address, authorized signatures list of the legal person, and the signatures of those who have the authority to represent and bind the legal person may be treated as incomplete.
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.
In August of this year, the Company announced an offering in the People's Republic of China ("PRC") of 550,000,000 "A" shares, consisting of 150,000,000 legal person "A" shares, 250,000,000 individual "A" shares and 150,000,000 employee "A" shares, as shown below.
Additionally, no legal person will be penalized with a 10% additional tax in the case of claiming tax losses for more than five years in the assessment and submission of the temporary tax return for the year 2012, since the temporary tax assessment was made before the afore mentioned restriction came into effect.