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Legal Speak Made Easy – “Juristic Person”

5 Juristic Person

“Juristic (or legal) personality” is an important concept stemming from the principle that certain entities can have the same rights and responsibilities as “natural persons” or “individuals”. They can therefore trade, enter into contracts, hold assets and incur liabilities in their own names.

The definitions of “juristic person” or “person” vary according to the legislation, but – generally speaking – companies, other corporate entities, NPOs and similar bodies are all regarded as juristic persons. Trusts and partnerships are, somewhat confusingly, not juristic persons – but they can be treated, and are sometimes defined, as having a separate legal identity in various contexts.