The concept of legal entity is at the heart of Western law today, in both common law and civil law countries, but it is also found in virtually all legal systems. [12] Having legal personality means being able to have legal rights and obligations in a particular jurisdiction, such as entering into contracts, suing and being sued. Legal personality is a prerequisite for legal capacity, for the ability of any legal person to modify its rights and obligations. Legal persons are of two types: natural persons – persons – and legal persons – groups of persons such as companies, which are legally treated as persons. While persons acquire legal personality at birth, legal persons do so when they are constituted in accordance with the law. Having legal personality means being able to have legal rights and obligations in a particular jurisdiction, such as entering into contracts, suing and being sued. Legal personality is a prerequisite for legal capacity, the ability of any legal person to modify (conclude, transfer, etc.) its rights and obligations. Artificial personality, legal personality or legal personality is the characteristic of a non-living entity that legally has the status of personality. In law, a corporation is any person or “thing” (less ambiguously any corporation)[1][2] that can do the things that an ordinary person can normally do in law – such as entering into contracts, suing and being sued, owning property, etc. [3] [4] [5] The rationale for the term “corporation” is that some legal entities are not persons: corporations and corporations are legally “persons” (they can legally do most of the things that an ordinary person can do), but they are clearly not persons in the ordinary sense of the word. A legal or legal person (Latin: persona ficta; also a legal person) has a legal name and has certain legal rights, protections, privileges, responsibilities and obligations, similar to those of a natural person. The concept of legal person is a fundamental legal fiction. It is relevant to the philosophy of law as it is essential for laws affecting a company (corporate law).
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 the payment of taxes. A company with legal personality may protect its members from personal liability. When starting a business, choose a legal structure. Some legal structures are legal persons: they have legal personality. This decides, for example, whether you are responsible for your private assets or not. Also, what taxes you have to pay. Read what legal personality is. In lawsuits involving corporations, shareholders are not liable for the company`s debts, but the company itself, as a “legal entity”, is obliged to repay those debts or be sued for non-repayment of debts. [22] In 2010, the U.S.
Supreme Court issued a decision that many legal scholars call a victory for corporate rights. The decision, Citizens United v. Federal Election Committee, expanded corporate freedom of expression by declaring it unconstitutional to prohibit corporations from participating in election expenses and campaigns. While critics see this decision as tantamount to allowing corporate-sponsored applicants in the future, proponents argue that it is unfair to grant legal personality that grants equal responsibilities but not equal rights. If your company is a legal entity, it has legal capacity. This means your business can make decisions, have debts, and make deals. Your business may also own assets and property. For example, business assets such as computers, a pickup truck, and equipment. But also debts and money in your business account. In the eyes of the law, a legal person is almost the same as a natural person.
A legal entity can inherit. You can sue a legal entity. And a legal entity can go bankrupt. Of course, legal entities cannot marry or be sent to prison. A corporation confers rights and obligations under the law on a person or organization. Since legal systems are designed for human use, legal personality is usually automatically attributed to human beings. In the modern world, the concept is often part of discussions about the legal rights or responsibilities of entities such as companies that cannot be defined by a single person. The concept was and still is an important part of the human rights debate. Artificial person.
Any legal person that can incur a legal obligation and be sued Since the 19th century, the legal person has been interpreted as becoming 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), United States The 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 a natural person.” 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. In court cases involving natural persons, the Uttarakhand High Court has ordered that the Ganges and Yamuna rivers and all waters be “living entities”, i.e. “legal persons” and appointed three persons as custodians to protect the rights of rivers from man-made pollution, such as “pilgrims` bathing rituals”. [22] Since legal personality is a prerequisite for legal capacity (the capacity of any legal person to modify (conclude, transfer, etc.) its rights and obligations), it is a prerequisite for an international organisation to be able to sign international treaties in its own name. Indian law defines two types of “legal entities”, human beings as well as certain non-human entities that have the same legal personality as human beings. Non-human entities that are legally designated as “corporations” “have ancillary rights and obligations; They can sue and be sued, can own and transfer property.” Because these non-human entities are “voiceless,” they are legally represented “by guardians and agents” to assert their legal rights and fulfill their legal duties and responsibilities.
Specific non-human entities with the status of “legal entity” include “legal personality, political bodies, non-profit trade unions, etc.” as well as trusts, deities, temples, churches, mosques, hospitals, universities, colleges, banks, railways, municipalities and gram panchayats (village councils), rivers, all animals and birds. [22] Legal personality is the capacity to exercise rights and to be bound by obligations. There are therefore two types of legal persons: human persons and non-human persons.
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