Distinction between natural person and legal person
Answers
The term “natural person” refers to a living human being, with certain rights and responsibilities under the law. By contrast, a “legal person,” or an “artificial person,” is a group of people that is considered by law to be acting as a single individual. Both natural and legal persons are entitled to sue other parties and sign contracts. They can also both be on the receiving end of a lawsuit.
There are several differences between a natural person and a legal person. For starters, a natural person is a real living human being, a person with a distinct personality. He generally has the power to think his own thoughts and make his own choices, though a person who is not competent to make his own decisions is still a natural person.
There are several differences between a natural person and a legal person. For starters, a natural person is a real living human being, a person with a distinct personality. He generally has the power to think his own thoughts and make his own choices, though a person who is not competent to make his own decisions is still a natural person.The law considers a legal person to be an entity that is seen in the eyes of the law as having certain rights and privileges; that, while not human, is permitted to assert a legal claim, or be subjected to legal duties. For instance, a partnership or a corporation is considered a legal person, for the purposes of applying the law. A natural person can also be considered a legal person and can perform the functions of both. A legal person, of course, can only perform its functions through natural persons.
There are several differences between a natural person and a legal person. For starters, a natural person is a real living human being, a person with a distinct personality. He generally has the power to think his own thoughts and make his own choices, though a person who is not competent to make his own decisions is still a natural person.The law considers a legal person to be an entity that is seen in the eyes of the law as having certain rights and privileges; that, while not human, is permitted to assert a legal claim, or be subjected to legal duties. For instance, a partnership or a corporation is considered a legal person, for the purposes of applying the law. A natural person can also be considered a legal person and can perform the functions of both. A legal person, of course, can only perform its functions through natural persons.Another important difference between a natural person and a legal person is that a natural person has a limited lifespan. Typically, a natural person does not live longer than 100 years or so. A legal person, on the other hand, can live on for longer than a natural person, in that a corporation can be inherited by its president’s successors, or a trust may continue to the benefit of generations of people. The corporation or trust can continue to operate long after the person who established it has passed away.
There are several differences between a natural person and a legal person. For starters, a natural person is a real living human being, a person with a distinct personality. He generally has the power to think his own thoughts and make his own choices, though a person who is not competent to make his own decisions is still a natural person.The law considers a legal person to be an entity that is seen in the eyes of the law as having certain rights and privileges; that, while not human, is permitted to assert a legal claim, or be subjected to legal duties. For instance, a partnership or a corporation is considered a legal person, for the purposes of applying the law. A natural person can also be considered a legal person and can perform the functions of both. A legal person, of course, can only perform its functions through natural persons.Another important difference between a natural person and a legal person is that a natural person has a limited lifespan. Typically, a natural person does not live longer than 100 years or so. A legal person, on the other hand, can live on for longer than a natural person, in that a corporation can be inherited by its president’s successors, or a trust may continue to the benefit of generations of people. The corporation or trust can continue to operate long after the person who established it has passed away.Yet another difference between a natural person and a legal person is that a natural person can only be classified as a living, breathing human being. The legal person definition can be used to refer to a host of organizations. For example, natural persons differ from legal persons in that the latter consist of deceased persons, unborn persons, partnerships, corporations, universities, societies, and companies, to name a few. Legal persons can also be referred to as “fictitious,” “artificial,” or “moral” persons.
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