Juristic person definitions
| Word backwards | citsiruj nosrep |
|---|---|
| Part of speech | Noun |
| Syllabic division | jur-is-tic per-son |
| Plural | The plural of the word "juristic person" is "juristic persons." |
| Total letters | 14 |
| Vogais (4) | u,i,e,o |
| Consonants (7) | j,r,s,t,c,p,n |
A juristic person, also known as a legal person, is an entity that has legal rights and responsibilities, such as a corporation, organization, or government entity. Unlike a natural person, which is a human being, a juristic person is an artificial entity created by law.
Legal Status of Juristic Person
Juristic persons have the ability to enter into contracts, own property, sue and be sued, and engage in legal actions, just like natural persons. They can also be held liable for their actions and can be subject to legal obligations and regulations.
Types of Juristic Persons
There are several types of juristic persons, including corporations, partnerships, associations, trusts, and governmental entities. Each type has its own set of rules and regulations governing its creation, operation, and dissolution.
Creation of Juristic Person
A juristic person is created by law through a process known as incorporation or formation. This process typically involves filing legal documents with the appropriate government agency, such as articles of incorporation for a corporation or a trust agreement for a trust.
Once created, a juristic person exists as a separate legal entity from its owners or members. This means that the assets, liabilities, and actions of the juristic person are distinct from those of its owners, providing a level of protection for the owners against personal liability.
Benefits of Juristic Persons
One of the main benefits of a juristic person is that it allows for the pooling of resources and the sharing of risk among multiple individuals or entities. It also provides a way to conduct business or other activities on a larger scale than would be possible for an individual person.
In conclusion, juristic persons play a crucial role in modern legal systems by allowing for the creation of entities that can act as legal persons with rights and responsibilities. Understanding the concept of juristic persons is essential for individuals and organizations looking to navigate the legal landscape effectively.
Juristic person Examples
- A company is considered a juristic person in the eyes of the law.
- Universities and other educational institutions are examples of juristic persons.
- Nonprofit organizations can also be recognized as juristic persons.
- Government entities are often treated as juristic persons for legal purposes.
- In some cases, a trust can be established as a juristic person.
- Religious institutions are typically classified as juristic persons.
- Certain types of partnerships may be considered juristic persons.
- Charitable foundations are commonly set up as juristic persons.
- Trade unions can be recognized as juristic persons under certain laws.
- Cooperatives are structured as juristic persons to conduct business activities.