Legally Competent Natural Person
From Open Risk Manual
Definition
Legally Competent Natural Person. A person who is considered competent, under the circumstances, to enter into a Contract, conduct business, or participate in other activities that generally require the mental ability to understand problems and make decisions on his or her own behalf
The definition of mental competence, and potentially of the age of majority, is a function of the situation and law in a given jurisdiction.
See Also
- Natural Person
- Black's Law Dictionary (U.S.)
- the Contract Act of 1872 (India)
Disclaimer
This entry annotates a FIBO Ontology Class. FIBO is a trademark and the FIBO Ontology is copyright of the EDM Council, released under the MIT Open Source License. There is no guarantee that the content of this page will remain aligned with, or correctly interprets, the concepts covered by the FIBO ontology.
Facts about "Legally Competent Natural Person"
| IsDefinedBy URI of an entity that is defined via an imported vocabulary. | https://spec.edmcouncil.org/fibo/ontology/BE/LegalEntities/LegalPersons/index-en.html + |
