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Simple English definitions for legal terms
entity
Read a random definition: ex rigore juris
A quick definition of entity:
An entity is a person or organization that has its own legal rights. This means that it can own things, do business, make agreements, pay taxes, and take legal action. It can also make decisions through other people, like a company or a group. A legal entity is like a legal person, with its own rights and status.
A more thorough explanation:
An entity is a person or organization that has its own legal rights and can act as a separate entity. This means that it can own property, do business, make contracts, pay taxes, and even sue or be sued. An entity can make decisions through agents, such as a corporation, state, or association. In legal terms, an entity is like a legal person, with its own rights and status.
- An individual person is an entity. They have their own legal rights and can make decisions for themselves.
- A partnership is an entity made up of two or more people who work together in a business. The partnership has its own legal rights and can enter into contracts and own property.
- A corporation is an entity that is owned by shareholders and run by a board of directors. The corporation has its own legal rights and can do business, own property, and sue or be sued.
These examples illustrate how entities can be different types of organizations, but they all have their own legal rights and can act as separate entities. This means that they can make decisions and take actions on their own, without needing to rely on individuals to do so.