Definition of Legal entity:
A person, company or organization that has legal rights and duties.
Partnerships, companies, partnerships, sole proprietorships, trust funds or persons of legal value before the law. A legal entity has the legal capacity to enter into agreements or contracts, to understand obligations, to enter into agreements and to repay debts, to execute and to prosecute on its own initiative and to be responsible for its actions.
How to use Legal entity in a sentence?
- It's a very strong legal entity, so we knew we had to raise our heads and follow the books.
- You should always make sure you know what the real legal person is and leave it at that.
- Modern economies generally allow the creation of legal entities that are separate and distinct from individuals, but capable, with limited capacity, to make contracts, pay bills and be accountable for their actions.
Meaning of Legal entity & Legal entity Definition