A legal person is a legal person that is legally recognized as a legal person, that is, a legal person that has different legal rights and obligations from its members. Section 2 (1) (f) of the Citizenship Act 1955 defines a body corporate as not a citizen and does not include any company or association, whether incorporated or not. It is therefore clear from the law that a company cannot be a citizen. In The State Trading Corporation v. Commercial Tax Officer (1963), the Court held that the word „citizen“ can only refer to a natural person and nothing else. Therefore, a company cannot claim citizenship to invoke fundamental rights under the Indian Constitution. Legal entities are businesses such as corporations, corporations (in some jurisdictions), and many government agencies. They are legally treated as if they were people.    Based on Solomon v.
Salomon and Co. Ltd (1897), the court held that a company has its own independent character and is distinct from its members, so that investors cannot be held liable for the manifestations of the organization, even if it holds all the auction capital. The company has its own corporate personality and is distinct from its members. Not all organizations have legal personality. For example, directors of a corporation, legislature or government agency are generally not legal entities because they do not have the ability to exercise legal rights independently of the corporation or political body to which they belong. An artificial person is an entity created by law that receives rights and duties similar to those of a human being. He can be real or imaginary and is treated more or less like a human being for the purposes of legal reasoning. For example, a company, a company, etc. An entity that is legally recognized as a legal entity.
A legally incorporated corporation has legal personality, transacts in its own name, has its own seal and its assets are separate from those of its members. As a result, he may own property, incur debts, borrow money, have bank accounts, hire people, enter into various contracts, and sue or be sued in the same way as individuals. Its members are the owners, but they can also be the creditors. Shareholders cannot be held liable for the company`s shares, even if they hold almost all of the share capital. The shareholders are not the representatives of the company and therefore cannot bind the company by their shares. ARTIFICIAL PERSON. Figuratively, a group of persons or a company is sometimes called an artificial person because the law associates them as a unit and gives them various powers possessed by natural persons. Corporations are such artificial people. 1 bouv. Inst. No.
177. LawSikho has created a telegram group for the exchange of legal knowledge, recommendations and various possibilities. You can click on this link and register: a corporation is completely free to transfer its shares, while in a private company there are certain restrictions. In a one-person company, the transfer of shares is not permitted. As we already know, a corporation is a separate legal entity established by law, and a corporation is distinct from its members. Therefore, the company is independently owned and can own, enjoy and dispose of real estate on its behalf. The most important feature of a corporation is that it is a separate legal entity and, in some cases, the liability of its members is limited. There are several characteristics of a business dealing with rights, duties, duties and powers, as described below: The word „society“ comes from Latin (com = with or together; panis = bread) and originally referred to a group of people eating together. In the past, business people used the holiday season to discuss business matters. Today, trade issues have become more complex and cannot be discussed during the holiday season. As a result, the corporate form of the organization has become increasingly important. A business is often called an association of like-minded people formed to run a business or business.
A corporation is a corporation and legal entity whose status and personality are distinct from those of its members and are independent. It is called a corporation because the people who compose it are transformed into an organization by integrating it in accordance with the law. The word „corporation“ comes from the Latin „corpus“, which means „body“. In court cases involving natural persons, the Uttarakhand High Court has ordered that the Ganges and Yamuna rivers and all waters be „living entities“, i.e. „legal persons“ and appointed three persons as trustees to protect the rights of rivers from man-made pollution, for example.