Legal Person
From Open Risk Manual
Definition
Legal Person is any entity which can incur legal obligation and can be sued at law.
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 (enter into, transfer, etc.) rights and obligations.
Examples
- Cooperatives (co-ops)
- Corporations
- Municipal corporations ( municipalities)
- Unincorporated associations
- Partnerships
- Sovereign states
- Supranational Organizations
- Sacred Locations (Physical or Human-made)
