Legal entity

(redirected from legal persons)
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Related to legal persons: Juristic person

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 ?
The trade register will include an electronic file of each legal person subject to registration.
To ensure effective monitoring of compliance with this Directive by that potentially wide group of institutions and persons, Member States may focus their monitoring activities in particular on those natural and legal persons trading in goods that are exposed to a relatively high risk of money laundering or terrorist financing, in accordance with the principle of riskbased supervision.
The regulation of electronic money institutions as a category of credit institutions, Romanian legal persons, started the process of implementation of their legal regime recently consecrated at the European Union level.
The federations are formed by linking two or more associations and/or foundations and they acquire their own legal personality, distinct from the non-profit legal persons of its structure, when being registered in the Register of Federations, from the record office of the court in whose territorial jurisdiction it is located.
The maximum limit for the legal person shares in traditional private banks is set at 49 % of the bank's capital when it is below SYP 5 billions, and at 60 % if it exceeds SYP 5 billions, taking into consideration the provisions of paragraph /c/ Article /3/ of Law No.
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.
Such a legal procedure is called 'Liquidation of Legal Person.
Natural and legal persons who operate or control activities listed in the directive are strictly liable for the damage they cause to the environment through their activity.
41) One court harmonized the definitions of "agency or instrumentality" and "political subdivision" by reading the latter to include all governmental units that are not separate legal persons and the former to denote those that are, thus making them amenable to suit.
But Bennett also demonstrates that in some villages, wives disappeared into the legal persons of their husbands faster than in others.
Of them, legal persons were 3,301, and natural persons 1,448, which is by 56 more from UJP's previous list published in June.