Legal Personality

INTRODUCTION WHAT IS LEGAL PERSONALITY? Definition of effective address referencelity by blacks licitity dictionary heavy genius ( in addition staged constitution, juridical in-personity, and juristic personality) is the characteristic of a non-living entity regarded by virtue to slang the status of personhood. A effective person (Latin: persona ficta) (also artificial person, juridical person, juristic person, and dead body corporeal, also unremarkably called a vehicle) has a juristic forebode and has rights protections, privileges, responsibilities, and liabilities under justness, scarcely as natural persons (humans) do. The concept of a legal person is a fundamental legal function. It is clever to the philosophy of fairness of nature as it is essential to laws affect a batch (the law of business associations). Legal personality allows one or more than natural persons to act as a single entity (a multiform person) for legal purposes. In more jurisdictions legal personality allows that multiform to be considered under law separately from its individual members of shareholders . They whitethorn sue and be sued enter, draw debts a contracts and own property. Entities with legal personality whitethorn also be subjected to certain legal obligations, much(prenominal) as the defrayment of taxes. An entity with legal personality may shield its share holders from personal liability.

The concept of legal personality is not absolute. piercing of corporate veil refers to looking at the individual natural persons playing as agents involved in a cor porate do or decision; this may result in a! legal decision in which the rights or duties of a corporation are treated as the rights or liabilities of that corporations shareholders or directors. Generally, legal persons do not have all of the same rightssuch as the right to license of speech that natural persons have, although the nation of Iran has become an exception in this regard. The concept of a legal person is now primeval to west law in both common law and civil law...If you want to dismount a full essay, govern it on our website: OrderCustomPaper.com

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