Advertisement

Legal person

Advertisement

Normally, in everyday life, there is a plurality of people who are grouped together or others who have good in order to achieve a common good , in this way we can find political institutions, sports clubs, groups of different kinds, etc. Despite this, not all people who are grouped so social can hold title to the status of legal person , it is the State which reserves the requirements  and is a matter of power politicians .

Advertisement
What is the legal entity?

They are social realities to which the State recognizes or attributes its own individuality that is different from its elements that are subject to law and duty , and that have the capacity to act through their organs and representatives .

Advertisement
  • Definition
  • Characteristics of a legal entity
  • Elements
  • Types
  • Capacity of the legal entity
  • How a legal person is born
  • Requirements
  • How it differs from a natural person
  • Legal person by country
  • Importance
  • Examples

Definition

We can say that legal persons are a group of individuals who possess its own assets and so autonomous , they hire and demand among themselves in the same way that makes a person physically . They are groups that also have their own personification , an organization that is more or less complex in terms of their characteristics and functions, and also that they have a heritage .

Advertisement

Characteristics of a legal entity

The main characteristics of a legal person are the following:

  • Legal persons have rights and obligations.
  • They are made up of either one or several individuals through the creation of commercial companies .
  • They can develop economic activities in a regulated and at the same time controlled manner.
  • They have the ability to take action character nonprofit .
  • It was born as a need to give legal responsibility to commit commercial, legal and economic actions.
  • They have nationality or fiscal domain to be legally located.
  • They have a date of birth , a patrimony that comes from the contributions of their members, they have earnings that are born from the economic activity they carry out, and they have rights and obligations .

Elements

The fundamental elements that make up a legal entity are necessary and without them it cannot exist, these elements are the following:

  • The people : main element for the existence of a legal entity.
  • The rules governing the legal person.
  • The legal act that gives birth to the institution.
  • The recognition by the State .
  • The record that the company exists.
  • patrimony to be able to specify ends and to face the obligations that arise.
  • legal norm that recognizes them as legal persons and the recognition of legal status by the State, in addition to their correct registration .

Types

The legal person can be divided into several types by means of a doctrinal classification that is established as follows:

  • By its structure and substrate:
    • Collective legal persons : they are the type of legal entity that involves a plurality of members of an organization that seeks to obtain certain specific objectives , such as corporations, associations and partnerships.
    • Legal persons of equity base : those who are formed into a gifted organization such unilateral of economic relations in order to achieve a particular purpose , an example of which are the foundations.
  • Depending on the legal persons belonging to the field of public law or private law :
    • Under public law : these are public interest corporations that have been recognized by the law.
    • Of private law and interest generally : are partnerships sense strict and foundations.
    • Of right private and particular interest: this type of entity type may be civil , commercial or Industrial and refer them to companies.

Capacity of the legal entity

It is always a bit difficult to determine the moment when legal entities manage to acquire the title of legal personality. Depending on the different requirements of each of the types of organizations they have, is how the acquisition of legal personality will occur. Legal capacity is the ability that a person has to be able to acquire rights and to contract obligations on their own, without the authorization of another person. It is a term that refers to ownership , it is the ability to act through the ordering of people who have the ability to actof legal form .

How a legal person is born

A legal person is born from the law with the idea of ​​allowing companies to have the ability to achieve certain specific rights and also to acquire a series of obligations in the same way that a natural person would have .

Requirements

There are several requirements that must be met for a person to exist, these requirements are as follows:

  • That an entity appears that is totally independent of the elements that compose it, even of the individual elements that constitute it.
  • That their rights or obligations be recognized , other than rights or obligations of the elements or of the members that are part of their components.
  • An essential element is also the existence of different bodies such as a board of directors in associations or a board of directors of public limited companies that have their own functions that carry out the purpose of the legal person.

How it differs from a natural person

The person physical or Natural is a term that refers to a human being while the legal person is one who has legal capacity and can act as a subject of law with the ability to acquire and possess property of all kinds.

Legal person by country

Spain

In this country, the different corporations , associations and foundations of public interest that have been recognized by the law and the associations of particular interest, whether civil , commercial or industrial , to which the law has granted a personality are considered as legal persons. own that is independent of its associates.

Mexico

A legal person is considered to be any person to whom the rights or obligations have been attributed by means of the legal system and who become part of a product of law, they are not an entity of material existence but are an abstract product of law that allows this type of legal communities to meet the objectives that their members have set for themselves.

Argentina

Legal persons are those that are not physical and that exist to the extent that acts are executed and developed in accordance with their object and with the purpose for which they were created. Otherwise they will be punished and charged. This provision is located in article number 141 of the Civil Code of the country and Commercial Code of the Nation .

Importance

The legal personality is important because it was created by the law to be able through it to articulate another fundamental right such as the right of association , which due to capitalist evolution and the importance of accumulation is very important for the proper development of a stable society .

Examples

Some examples of a legal entity are the following:

  • Commercial companies such as companies, large multinational corporations and sole proprietorships can be included in this group.
  • Non-profit organizations such as NGOs, foundations, neighborhood associations, etc.
  • Public entities or entities of the administrations of the countries.

Leave a Comment