natural person

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Natural Person

An individual belonging to the human race. In law, natural persons have rights, such as the right to own property, the right to enter into a contract, the right to vote, and the right to engage in commerce. Natural persons may be held liable for criminal and civil penalties. A natural person is distinguished from a juridical person, which is an artificial entity with some of the rights of a natural person.

natural person

An individual, as opposed to an artificial person like a corporation, partnership, or association.

References in periodicals archive ?
All natural persons undergo a screening conducted by the UAE Criminal Investigations Department (CID).
As previously mentioned, a natural person is a human who possesses rights and duties.
Despite this statement of congressional intent, a couple of IRS private letter rulings issued in the mid-1990s suggested that in order to qualify for this second exception, it was necessary to establish that the trust acted as the legal agent for a natural person under general principles of agency law (PLRs 9639057 and 9810015).
6 in which the municipality has been given the powers of a natural person.
48) A $50,000 threshold applies where substantially all the tax benefits from the RT are provided to natural persons.
78u-2(b)(3) -- $120,000 for a natural person and $575,000 for any other person.
What a natural person says or does is (or should be) the script belonging to the appropriate role.
The bill also incorporates income and net worth requirements for natural persons found in the SEC's Rule 501(a) of Regulation D, and adds language requiring the agency to adjust these dollar thresholds for inflation every five years, based on the Consumer Price Index.
Evidencing that common usage, this Court routinely uses 'individual' to denote a natural person, and in particular to distinguish between a natural person and a corporation.
The purpose for which natural person credit unions formed corporate credit unions has been fundamentally changed by the new regulation," Bonds said.
350, part 1 of the Civil code of the Republic of Lithuania, under the consumer contract of purchase-sale, the seller, who is the person engaged in trade, or his agent, obligates himself to sell a good--a movable thing--to the buyer-a natural person for his personal, family or household needs, not related to business or profession, while the buyer obligates himself to pay the price.