Artificial Persons:
Noun: A legal concept that refers to entities or organisations that are recognized by law as having legal rights and obligations similar to those of a natural person. Artificial persons, also known as juridical persons or legal persons, can include corporations, government bodies, non-profit organisations, and other entities that are distinct from their individual members or owners. They are capable of entering into contracts, owning property, and being held liable for their actions. While artificial persons do not possess physical existence, they are treated as legal entities with certain legal capacities and protections.
Artificial persons, also known as legal persons, are entities recognized by the law as having legal rights and obligations similar to those of a natural person. This includes corporations, partnerships, and other entities that are recognized as having legal personality. Artificial persons can enter into contracts, own property, and sue or be sued in court. They are distinct from natural persons, but are granted legal recognition and protection under the law.
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This glossary post was last updated: 29th March 2024.
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