Entity
Definition
A person or organization possessing separate and distinct legal rights, such as an individual, partnership, or corporation. An entity can, among other things, own property, engage in business, enter into contracts, pay taxes, sue and be sued.
See also
Definition from Nolo’s Plain-English Law Dictionary
An organization, institution, or being that has its own existence for legal or tax purposes. An entity is often an organization with an existence separate from its individual members--for example, a corporation, partnership, trust, estate, or government agency. The entity is treated like a person; it can function legally, be sued, and make decisions through agents.
Definition provided by Nolo’s Plain-English Law Dictionary.
August 19, 2010, 5:15 pm
