We explain what natural persons and legal entities are, the rights and obligations they have and what their characteristics are.
What are natural and legal persons in law?
Natural persons, in the field of law, are All those human beings of real and visible existence that can acquire rights and consequently incur obligations.
Legal entities, meanwhile, are a group of individuals who come together for the purpose of a collective achievementThe objective is the formation of a company, business, organization or association with a collective name, in the form of a simple partnership, limited liability, anonymous, de facto, public good, etc.
At the same time, The law confers on these persons a legal capacity to enter into rights and obligations.In the case of natural persons, liability will be individual. Legal entities, on the other hand, will be held collectively liable based on the structure created, although at the same time there may be certain individual responsibilities of each partner or member in certain circumstances.
See also: Real and personal rights.
Characteristics of individuals and legal entities:
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Responsibilities
Individuals acquire rights and in the same way incur obligations.Legal entities also do so, but their legal personality comes from an organized community with the purpose of achieving a lasting and permanent social goal. Both natural persons and legal entities are recognized by the State and have property rights.
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Existence
Natural persons have a visible, real, physical or natural existence. Legal entities are a legal creation that responds to a legal and state order.The end of the legal entity will be realized with the death or disappearance of the individual, while in the case of legal entities it will be realized with the legal dissolution of the constituent entity.
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Ability
Individuals and legal entities have the capacity to be holders of rights and dutiesat the same time they have the suitability to be an active or passive subject of legal relations. In the case of legal entities, this capacity is subject to the scope of their corporate purpose and is essentially exercised through representation by a natural person, whether judicially or extrajudicially.
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Denomination
Legal entities must have a name that designates a specific person; each subject will thus have a personal identification. In legal entities there will be a Corporate Namewhich basically constitutes an indispensable means of identification to execute its legal relations.
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Home
Each subject will be responsible for establishing a domicile, which It will be your place of residence in the case of natural personsLegal entities must register their domicile in the exact place where their administration is established, that is, the tax domicile of the company, institution, foundation, etc.
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Civil status
Each subject must state his or her marital status.This situation is purely exclusive to natural persons. It is an individual situation of people in relation to their family and spouse (single, married, widowed, separated).
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Heritage
All individuals and legal entities They must be willing to declare their assetsthat is, everything that can be valued economically (assets, rights, obligations and money). In the case of legal entities, the assets are specified in the articles of incorporation of the companies and can be estimated in monetary terms.
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Nationality
It is the belonging of a subject to a certain territorial space with a specific state regulation, in the case of legal entities. As for legal entities, their registration will be carried out under the legal guidelines of a specific nation, even if they subsequently register an international activity.
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Exercise of rights
Every person When conceived and born, it will have a legal personality and will acquire rights that can be freely exercised (legal persons). Legal persons may exercise all rights that are necessary to achieve the objective of their establishment.
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Administration
All legal entities They will be administered based on the laws corresponding to their operation specific, as well as according to its articles of incorporation and statutes. Natural persons shall be subject to the legal system that includes them.