person

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person

Legally, any natural or artificial person, which would include corporations, partnerships, associations, and limited liability companies. If it is important to distinguish among the “persons” who may do something or who are prohibited from doing something, relevant contracts, leases, or statutes will usually define the term.

References in periodicals archive ?
For example, under ERISA, an employer-fiduciary who uses plan assets to finance business operations is personally liable to restore any profits made through the use of those assets.
In conclusion, monies borrowed from a person with an interest in an activity are not treated as "at-risk" even though the individual is personally liable for repayment.
A shareholder in an S corporation who personally guarantees a debt of the corporation may increase basis in the corporation by the amount of the debt when the facts demonstrate that, in substance, the shareholder has borrowed funds and subsequently advanced them to the corporation.
On this record, we hold F is personally liable as a fiduciary to the extent of $36,000.
She said she has worked hard in the past to make sure Enfield has gotten what she needed from City Hall and felt personally hurt that she would criticize the city and support secession.
The Razavis argued that they had rented the condominium at a fair rental for most of 1986 and all of 1987, less only the days they personally used it, because of the guaranteed payments they had received from SSP.
Mike's positive attitude, desire for excellence--both personally and professionally, and his commitment to customers exemplifies the spirit of NAPA and the ASE," Susor said.
6324(b) reads, "If the tax is not paid when due, the donee of any gift shall be personally liable for such tax to the extent of the value of such gift.
A shareholder is considered at risk with respect to amounts borrowed for use in an activity to the extent that the shareholder is personally liable for repayment of the loan.
Since moving to the Washington DC area, I have personally become involved with the Helping Our Heroes Foundation and have seen what a tremendous resource this organization is to the patients at Walter Reed Army Medical Center, Bethesda Naval Medical Center, and at military Combat Surgical Hospitals in Iraq.
Because Msryan never left the car and Gevorgyan is alleged to have hit Aguirre in the head, neither of them is accused of personally killing Aguirre.
Ann is a great supporter of NAMI-Nashville, both personally and through Magellan," said Magdalena Samuchin, nominating chair for the 2005 Ambassador of Hope Awards.