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Legal Entity |
Also found in: Legal, Wikipedia | 0.02 sec. |
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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. Want to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit the webmaster's page for free fun content. |
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