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- Dictionarylegal entity
noun
- 1. an individual, company, or organization that has legal rights and obligations: "constituency associations are separate legal entities from the party"
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May 9, 2023 · A legal entity refers to any business, organization, or individual that’s required to meet legal obligations as set by local, state, and federal laws. Think of it as a separate “person” in the eyes of the law. It can own property, sign contracts, sue or be sued, and be held accountable for its actions.
LEGAL ENTITY definition: a company or organization that has legal rights and responsibilities, for example the right to make…. Learn more.
A legal entity is a separate legal person from its owners or members that must fulfill legal responsibilities per local, state, or federal authorities. A legal entity can own property, enter into contracts, sue, and be sued. Let’s dig deep into the definition, types and management of legal entities.
Aug 21, 2024 · A legal entity is a company or firm registered with the country's law that allows the owners to run the business under one common name. In addition, they get certain rights and responsibilities to conduct trade. The types of legal entities are - sole proprietorship, limited liability company (LLC), partnership, and corporations.
legal entity - A legal entity is a body such as a corporation or labor union that, under the law, possesses rights and responsibilities, notably including the ability to initiate or be targeted in a lawsuit.
noun. law. a person or organization that can enter into contracts, and take part in legal action. Once a joint-stock company is formed then it becomes a separate legal entity apart from its shareholders, able to enter into contracts with suppliers and customers. Collins English Dictionary.
Feb 9, 2022 · The meaning of “legal entity” doesn’t technically change across different jurisdictions, but the legal entity form and types of legal entities may look different and have varying compliance rules and government regulations.
6 days ago · The meaning of LEGAL ENTITY is an entity (as a corporation or labor union) having under the law rights and responsibilities and especially the capacity to sue and be sued.
Definition & Citations: A lawful or legally standing association, corporation, partnership, proprietorship, trust, or individual. Has legal capacity to (1) enter into agreements or contracts, (2) assume obligations, (3) incur and pay debts, (4) sue and be sued in its own right, and (5) to be accountable for illegal activities.
Definition: A legal entity is an individual or group that has legal rights and duties related to contracts, agreements, payments, transactions, obligations, penalties and sues. The term applies to any kind of organization formally constituted according to the particular set of laws governing the country.
