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The term juridical person ("pessoa jurídica" in Portuguese) is used in legal science for designating an entity with rights and liabilities which also has legal personality. Its regulations are largely based on Brazil's Civil Code, where it is distinctly recognized and defined, among other normative documents.
The concept of a juridical person is a fundamental legal fiction. It is pertinent to the philosophy of law, as it is essential to laws affecting a corporation (corporations law). Juridical personhood allows one or more natural persons (universitas personarum) to act as a single entity (body corporate) for legal purposes.
s.c. (spółka cywilna): "civil law partnership", itself neither a proper legal entity nor a juridical person, as it is the partners (natural persons) who retain their separate statuses as entrepreneurs and legal entities, albeit bound by an agreement on the sharing of profits, losses and ownership of a business (common pool of assets).
The contemporary national legal systems are generally based on one of four major legal traditions: civil law, common law, customary law, religious law or combinations of these. However, the legal system of each country is shaped by its unique history and so incorporates individual variations. [ 1 ]
Corporate personhood or juridical personality is the legal notion that a juridical person such as a corporation, separately from its associated human beings (like owners, managers, or employees), has at least some of the legal rights and responsibilities enjoyed by natural persons. In most countries, a corporation has the same rights as a ...
In jurisprudence, a natural person (also physical person in some Commonwealth countries, or natural entity) is a person (in legal meaning, i.e., one who has its own legal personality) that is an individual human being, distinguished from the broader category of a legal person, which may be a private (i.e., business entity or non-governmental organization) or public (i.e., government) organization.
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Legal status is the status or position held by an entity as determined by the law. [ 1 ] [ 2 ] [ 3 ] It includes or entails a set of privileges , obligations , powers or restrictions that a person or thing has as encompassed in or declared by legislation .