There are therefore two types of legal entities: human and non-human. In law, a human person is designated as a natural person (sometimes also as a natural person), and a non-human person is called a legal person (sometimes also as a legal, legal, artificial, legal or fictitious person, Latin: persona ficta). Legal personality allows one or more natural persons (universitas personarum) to act as an entity (legal person) for legal purposes. In many jurisdictions, artificial personality allows this company to be considered legally distinct from its individual members (for example, in a public company, its shareholders). They can sue and be sued, enter into contracts, incur debts and own property. Companies with legal personality may also be subject to certain legal obligations, such as: payment of taxes. A company with legal personality may protect its members from personal liability. Since the 19th century, the legal person has been interpreted more broadly to make it a citizen, domicile or domicile of a state (usually for the purposes of personal jurisdiction). In Louisville, C. & C.R. Co. v.
Letson, 2 Wie. 497, 558, 11 L.Ed. 353 (1844), the United States Supreme Court held that, for the purposes of this case, a corporation “may be treated both as a citizen [of the State which created it] and as an individual.” Ten years later, they confirmed Letson`s conclusion, albeit on the slightly different theory that “those who use the company`s name and exercise the powers it confers” should be conclusively regarded as citizens of the company`s founding state. Marshall v. Baltimore & Ohio R. Co., 16 Wie. 314, 329, 14 L.Ed. 953 (1854). These concepts have been codified by law because U.S. jurisdiction laws relate specifically to corporate domicile.
Companies registered as separate legal entities continue to live until they are dissolved for valid reasons. A legal person may enter into contracts and assume obligations arising from such contracts, assume and pay debts, sue and be appointed by other parties in legal actions and may be held liable for the results of such actions. Generally, a legal person can sue and be sued, own property and enter into contracts. According to Indian law, “shebaitship” is the property belonging to the deity or idol as a “legal person”. People who are destined to act in the name of divinity are called “shebait”. A shebait acts as guardian or guardian of the deity to protect the right of the deity and fulfill the legal duties of the deity. Shebait is similar to a trustee if the deity or temple has a legally registered trust or legal entity. According to Hindu law, goods given or offered as rituals or gifts, etc. absolutely belong to the deity and not to the shebait. The case studies are “Profulla Chrone Requitte vs Satya Chorone Requitte”, AIR 1979 SC 1682 (1686): (1979) 3 SCC 409: (1979) 3 SCR 431. (ii)” and “Shambhu Charan Shukla vs Thakur Ladli Radha Chandra Madan Gopalji Maharaj, AIR 1985 SC 905 (909): (1985) 2 SCC 524: (1985) 3 SCR 372”.
[24] In corporate law, the importance of corporate personality still raises a number of concerns, including: But how important is a legal entity and why is it so important to compliance and legal operations teams? Hire the best business lawyers and save up to 60% on legal fees The different status of a commercial organization that has complied with the law for its recognition as a legal entity and has a legal existence independent of that of its officers, directors and shareholders. Example of a TLD: One of the advantages of operating a business as a corporation is the protection it offers to its owners, as the law recognizes its legal personality, so lawsuits are brought against it as a legal entity. In legal proceedings involving animals, animals have the status of “legal persons” and humans have a legal obligation to act as “loco parentis” for the welfare of animals, as a parent does to minor children. A court ruled in 2014 in the case “Animal Welfare Board of India vs Nagaraja” that animals are also entitled to the fundamental right to liberty enshrined in Article 21 of the Indian Constitution[23], i.e. the right to life, personal liberty and the right to die with dignity (passive euthanasia). In another case, a court in the state of Uttarakhand ordered animals to have the same rights as humans. In another cow smuggling case, the High Court of Punjab and Haryana ordered that “the entire animal kingdom, including species of birds and aquatic animals” should have a “separate legal personality with the corresponding rights, duties and responsibilities of a living person” and that humans be “loco parentis” while setting standards for animal welfare, veterinary treatment, food and shelter, for example. Wagons hauled by animals must not have more than four persons and carriers must not be loaded beyond the established limits, and these limits must be halved if the animals are to carry the load on a slope. [22] I could sue the manager of a fast food restaurant if I slipped and fell in his restaurant, but the fast food business as a separate “person” did not contribute to my accident. I could take legal action to discriminate against a company because it is a corporation. As you can see, while the meaning of a legal entity does not technically change in different jurisdictions, the form and types of legal entity may be different and have different implications for compliance and governance. A typical example of the concept of legal person in a civil jurisdiction according to the General Principles of Civil Law of the People`s Republic of China, Chapter III, Article 36: “A legal person is an organization that has the capacity to exercise civil rights and civil conduct, independently enjoys civil rights, and assumes civil law obligations in accordance with the law.” [20] It should be noted, however, that the term citizenship has a very different meaning in civil law and common law systems.
Legal entity means a human or non-human entity that is treated as a person for limited legal purposes. While natural persons acquire legal personality “naturally”, simply by birth (or before that in some jurisdictions), legal persons must have legal personality conferred on them by an “unnatural” legal procedure, and for this reason they are sometimes called “artificial” persons.
