In the context of law, a person is defined as an individual, trust, estate, partnership, association, company, or corporation endowed with legal rights and responsibilities. This definition is crucial in understanding the scope and application of numerous legal statutes and regulations.
Types of Legal Persons
Natural Persons
A natural person refers to a human being with legal capacity, possessing certain rights and obligations under the law.
Artificial Persons
An artificial person (or juridical person) encompasses entities other than human beings. This category includes:
- Trusts: Legal arrangements in which one party holds property for the benefit of another.
- Estates: The total property, real and personal, owned by an individual, especially at death.
- Partnerships: Business organizations where two or more individuals share ownership and responsibilities.
- Associations: Groups organized for a joint purpose, such as non-profits.
- Companies: Commercial businesses operating under a legal name.
- Corporations: Separate legal entities formed to conduct business, owned by shareholders and governed by bylaws.
Special Considerations
Legal Rights
Legal persons enjoy rights such as:
- Entering into contracts
- Owning property
- Suing and being sued
Responsibilities
Correspondingly, they have responsibilities like:
- Adhering to laws and regulations
- Paying taxes
- Ensuring fiduciary duties are fulfilled
Historical Context
The concept of a legal person has evolved significantly over centuries, with roots in Roman law. This evolution underscores the importance of distinguishing entities that can function in society akin to human beings.
Comparisons
Legal Person vs. Natural Person
While both are recognized under the law, legal persons (e.g., companies) are created through statutes and exist as long as the law permits. Conversely, natural persons are biological entities with a finite lifespan.
Related Terms
Entity
An entity is any organization or structure with a distinct legal existence, whether a natural or artificial person.
Legal Capacity
The legal capacity of a person denotes their ability to enter into binding contracts and be held accountable under the law.
FAQs
Q: Can a legal person be held criminally liable? A: Yes, certain jurisdictions allow for criminal liability of corporations and other legal persons under specific conditions.
Q: What distinguishes a trust from a corporation? A: A trust is a fiduciary relationship where a trustee holds title to assets for the benefit of beneficiaries, while a corporation is an independent legal entity owned by shareholders.
Q: Are individual professionals considered legal persons? A: Individual professionals, like lawyers or doctors, are natural persons but can form professional corporations, which are considered legal persons.
References
- Black’s Law Dictionary
- “The Concept of Legal Person” by John Dewey
- “Corporate Liability and Rights” by Peter French
Summary
A person in legal terminology encompasses both natural human beings and various entities like trusts, estates, partnerships, associations, companies, and corporations. Recognition as a legal person endows these entities with rights and responsibilities, enabling them to perform legally relevant actions in society. Understanding this concept is fundamental to navigating legal frameworks and ensuring compliance with laws and regulations.
