The term “natural person” refers to a living human being, with certain rights and responsibilities under the law. In contrast, a ” legal person “ or a “legal person” is a group of persons who are considered by law to act as one person. Both natural and legal persons have the right to sue other parties and sign contracts. They may also be on the receiving end of a lawsuit.
|The natural person is a human being and is a real and living person.
|The moral person is a being, real or imaginary, whom the law considers capable of rights and obligations.
|It has a power of thought, speech and choice.
|The legal person does not have such power of thought, word and choice.
|Exercises of their functions
|It is also a legal person and, consequently, performs its functions.
|The legal person performs its functions only through a natural person
|Who is it?
|To all human beings except the unborn, dead, lower animals, etc.
|But the unborn, the dead, the idiots, the corporations, the companies, etc., are treated as legal persons.
|Time of life
|Natural persons can live for a limited period. According to the general presumption, he cannot live more than 100 years.
|The legal person can live more than 100 years even for an indefinite period. For example “East India Company” was established in the 16th century in London, and now it still exists.
|There are no different varieties of natural persons.
|There are different varieties of legal persons, such as corporations, companies, universities, companies, municipalities, etc.
What is a natural person?
A natural person is a real human being , which is different from a ‘legal person’, which is a distinction under the law to establish whether a person is acting or appearing as himself, acting or appearing on behalf of a company or other entity . This is because a legal or artificial person is not a person at all , but rather a collective of people that is being considered as a single entity for the purposes of legal action. For example, a natural person is different from a legal person, which could be a company, a trust, an association or some other group.
Difference between natural person and legal person
There are several differences between a natural person and a legal person . To begin with, a natural person is a real living human being, a person with a different personality. He generally has the power to have his own thoughts and make his own decisions, although a person who is not competent to make his own decisions is still a natural person.
The law considers that a legal person is an entity that, in the eyes of the law, is considered to have certain rights and privileges; that, while not human, you are allowed to assert a legal claim or be subject to legal obligations. For example, a partnership or corporation is considered a legal person, for the purposes of law enforcement. A natural person can also be considered a legal person and can perform the functions of both. A legal person, of course, can only carry out its functions through natural persons.
Another important difference between a natural person and a legal person is that the former has a limited useful life . Generally, a natural person does not live more than 100 years or so. A legal person, on the other hand, can live longer than a natural person, since a corporation can be inherited by the successors of its president, or a trust can continue for the benefit of generations of people. The corporation or trust can continue to operate long after the person who established it passes away.
Yet another difference between a natural person and a legal person is that a natural person can only be classified as a living and breathing human being. The definition of a legal entity can be used to refer to a large number of organizations. For example, natural persons differ from legal persons in that the latter consist of deceased persons, unborn persons, partnerships, corporations, universities, partnerships, and companies, to name a few. Legal persons can also be called “fictitious”, “artificial” or “legal” persons .
Below is a list of the individual characteristics of natural and legal persons:
- A human being; a real and living person
- Possess the power of thought and choice.
- It can also be a legal person and perform the functions of the organization.
- Live for a limited period, which means that he or she will die at some point
- A being, real or imaginary, created by law, or considered capable of certain rights or obligations by law.
- Also known as “fictitious”, “legal” or “artificial”
- Includes deceased persons, corporations, companies, trusts, and other organizations.
- It can only carry out its functions through natural persons
- It does not die, but it can be dissolved or removed.