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 ?
Introduce measures for transparency in arrangements for ownership of legal persons and enhance international cooperation through mutual legal assistance, extradition and information exchange.
They are also non-resident companies established in Tunisia, legal arrangements if one of their directors or trustee is resident or having their tax residence in Tunisia, non-administrative establishments and public enterprises, associations and the networks of associations in compliance with the law governing associations and legal persons that the laws or regulations require to be registered.
Let us also specify the rest of taxpayers, all professions combined, they are exactly 785,000 people, including 627,000 individuals, all trades combined, and 158,000 legal persons (LP) or companies...
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.
The objectives of this paper are: 1) to show the regulation about the environmental criminal law of the two countries; 2) to analyze the advantages and disadvantages of the regulation of China and Mexico; 3) to illustrate the importance and possibility to take legal person as the subject of environmental law and 4) to reflect about the perspectives futures of the reform of the legislation of the two countries.
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.
French legislation restricts the number of shares that a non-biomedical firm may hold and prohibits any natural or legal person from holding shares in more than two firms set up in order to jointly operate one or more biomedical laboratories.
Two tests have emerged for determining whether or not an entity is an "agency or instrumentality," which the FSIA vaguely defines as a "separate legal person." (20) Under the legal characteristics test courts balance three characteristics of legal status that are enumerated in the statute's legislative history, namely "whether ...
He had proposed that a top legal person examine the dossier, with a view to seeing whether a new inquiry was justified.