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 ?
Some 7,111 legal entities were registered in the country in January-June 2019, the absolute majority of which passed e-registration.
Extract from the Unified State Register of Legal Entities (Unified State Register) as not earlier than 1 month prior to its submission to the Company, containing information on the legal entity (a copy certified by the registering authority);
This presumption also is applicable to the distribution of real property by a legal entity to partners, members or other legal entities.
Nainital (Uttarakhand) [India], July 5 ( ANI ): The Uttarakhand High Court on Wednesday declared the "entire animal kingdom including avian and aquatic" as legal entities, with a distinct persona and corresponding rights, duties and liabilities of a living person.
decline); the legal entities' accounts dropped in number by 0.7% or by 875 accounts (10.6% y- o-y decline), and the individuals' accounts
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.
Newcomers to the register included 147 individuals, 162 others who control legal entities and 132 legal entities.
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.
As a business owner, you should use legal entities to limit your personal exposure.
A reporting entity could include multiple legal entities, it could be just a portion of a legal entity, or it might not be organized as a legal entity at all.
An FSC official pointed out that some legal entities have representation both on the board of directors and supervisors of listed companies, via their own representatives and representatives of companies with their equity investments, an arrangement designed to bypass article 26-3 of Securities Transaction Law banning legal entities from having such simultaneous representation, which is tantamount to the supervision of your right hand by your left hand.
If a unitary relationship exists between a group of legal entities, certain states would require the group to file a combined income tax return.