What is the meaning of juristic person?
An entity, such as a corporation, that is recognized as having legal personality, i.e. it is capable of enjoying and being subject to legal rights and duties. It is contrasted with a human being, who is referred to as a natural person. See also international legal personality.
What is a non natural person?
non-natural person means any legal person, unincorporated firm or body of persons or partnership not being an individual; Sample 1.
What is difference between natural person and juristic person?
In law, a human person is called a natural person (sometimes also a physical person), and a non-human person is called a juridical person (sometimes also a juridic, juristic, artificial, legal, or fictitious person, Latin: persona ficta). They are treated in law as if they were persons.
What is the legal definition of a natural person?
Legal Definition of natural person : a human being as distinguished from a person (as a corporation) created by operation of law — compare juridical person, legal person.
What are examples of juristic person?
A juristic person has a seperate legal personality from the persons who created it. Examples of such jursitic persons are: Companies: Incorporated in terms of the Companies Act Act 61 of 1973. Close Corporations: – The Close Corporations Act 69 of 1984. Banks: – The Banks Act 124 of 1993.
What type of business are juristic persons?
A sole proprietorship, partnership and business trust have no communal personality whereas companies and close corporations are juristic persons. The veil of juristic personality may be pierced in accord with the common law and legislature.
What do you understand by artificial person?
Artificial person is an entity created by law and given certain legal rights and duties of a human being. An artificial person is also referred to as a fictitious person, juristic person, juridical person, legal person or moral person.
Is an LLC considered a natural person?
The owners of an LLC are called members and are similar in some respects to shareholders of a corporation. A member can be a natural person, a corporation, a partnership, or another legal association or entity. LLCs are therefore unavailable to sole proprietors. …
What is a juristic person in business?
a body recognized by the law as being entitled to rights and duties in the same way as a natural or human person, the common example being a company.
Is a revocable trust considered a natural person?
The revocable trust. Between 12 CFR Pt. i, a revocable trust is considered a “natural person.”
What is juristic person in jurisprudence?
Juristic persons are also defined as those things, mass of property, group of human beings or an institution upon whom the law has conferred a legal status and who are in the eye of law capable of having rights and duties as natural persons. The animus is the personality or the will of the person.
Which is the best definition of personal service?
personal service. noun. 1 : a service based on the intellectual or manual efforts of an individual (as for salary or wages) rather than a salable product of his or her skills. 2 : physical delivery of process to a person to whom it is directed or to someone authorized to receive it on that person’s behalf.
What does it mean to be a juristic person?
Juristic Person Meaning A juristic person is a non-human legal entity recognized by the law and entitled to rights and duties in the same way as a human being.
What is personal service of a complaint and summons?
Personal service of the complaint and summons is a form of actual notice. Actual notice occurs when the summons and complaint are delivered personally to the respondent.
What is the difference between personal service and constructive service?
Personal service is distinguished from “constructive service,” which includes posting a notice on property and then mailing a copy to the resident, or publishing a summons directed toward a person the court has found is hiding to avoid service.