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 ?
Any person that obtains from to deal in any particular security on the basis of information obtained from a person authorised to deal with the account of a legal person related to this account orders that have been or will be entered, if such dealing is for the purpose of benefiting from potential material effect of those orders on the price of that security.
Under the new rules, district courts will be obliged to submit electronically to the registry office within one business day judgments on the establishment and termination of legal persons which are not traders, as well as changed circumstances pertaining to them.
In the event that the analyzed entities of the Romanian legal person type intend to issue electronic currency or to provide payment services for the first time on the territory of Member States, the legislature did not alter the forms in which this was previously possible (namely by opening branches or directly), it regulated insignificant changes on the procedure of notifying the National Bank of Romania with regard to this intention, as related to the rules of the period when they were part of the credit institution category, and as a new element, it created the possiblity of using natural or legal persons for the distribution and the buying back of electronic currency.
The National Register of Non-Profit Legal Persons was introduced in Romania by Ordinance No.
The legal person share could exceed 60 % up to 75 %, provided that this increase is allocated for the contribution of the public financial and banking sector.
The obligations of the manager of the company specified in the provisions of laws to act on the company's and its shareholders' behalf, to act honestly and wisely in regard to the legal person and other members of the governing body of the legal person, also the provisions of the CC on the obligation of the manager, as the governing body of the legal person, to fully compensate the damage caused, give the grounds to state that the acts of the manager, while concluding and executing contracts, must ensure that damage (losses) are not caused to the company.
The penalties more or less mean could a company or other entities like semi-government organisations, which are also legal persons, could be shut down if a top executive is found guilty in any of the offences stipulated by the law.
33) The statute requires that an "agency or instrumentality" be a "separate legal person," a term clearly defined by the legislative history.
The company's legal person shares were withdrawn from the STAQ market in June, however.
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.