Business, Legal & Accounting Glossary
An individual or organization which is legally permitted to enter into a contract, and be sued if it fails to meet its contractual obligations.
The legal entity had signed the document with their trial attorney who would be representing them throughout the lengthy case.
I created a separate legal entity for purposes of conducting business to provide another layer of insulation in the event of a dispute.
Since they were the legal entity on the deal, they were now the ones that were going to be sued because the deal fell through, and they lost business on it.
statutory merger
tenancy in severalty
exemption trust
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This glossary post was last updated: 5th November, 2021 | 0 Views.