LEGAL ENTITY
\lˈiːɡə͡l ˈɛntɪti], \lˈiːɡəl ˈɛntɪti], \l_ˈiː_ɡ_əl ˈɛ_n_t_ɪ_t_i]\
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A lawful or legally standing association, corporation, partnership, proprietorship, trust, or individual. Has legal capacity to (1) enter into agreements or contracts, (2) assume obligations, (3) incur and pay debts, (4) sue and be sued in its own right, and (5) to be accountable for illegal activities.TLDÂ Example: As a legal entity under state law, the corporation and its officers could be charged with violating the criminal laws.
By Henry Campbell Black
Word of the day
Snake's-head
- Guinea-hen flower; -- so called in England because its spotted petals resemble the scales of a snake's head.