What is natural person and legal person?
Keeping this in view, what is the difference between legal person and natural person?
Natural Person is a human being and is a real and living person. Legal Person is being, real or imaginary whom the law regards as capable of rights and duties. 2. He has power of thought, speech, and choice.
Also Know, what is the meaning of legal personality? To have legal personality means to be capable of having legal rights and duties within a certain legal system, such as to enter into contracts, sue, and be sued. Legal personality is a prerequisite to legal capacity, the ability of any legal person to amend rights and obligations.
Also Know, what is an example of a non natural person?
non-natural person means any corporate body, unincorporated firm, partnership or body with legal personality except an individual, including any such entity constituted under the law of a country or territory outside the United Kingdom or any such entity constituted under international law; Sample 2.
Who is an artificial person?
Artificial person is an entity created by law and given certain legal rights and duties of a human being. It can be real or imaginary and for the purpose of legal reasoning is treated more or less as a human being. For example, corporation, company etc.