The Differences between a Physical and Legal Person is given here. In legal terms, it is convenient to know the differences between a natural person and a legal entity.
keep reading…
Physical person
Natural person or natural person is nothing more than a legal concept elaborated by the Roman jurists.
A natural person is all that humans capable of acquiring rights and therefore, contracting obligations. It refers to people of real existence.
Its etymological origin comes from the word persona-ae, a mask worn by actors in ancient times and not only hid their face but also increased the volume of their voice. From this point it starts that not all people were considered human before the law, depending on the legal system, the person who is about to be born can be considered a natural person and therefore with rights.
A natural person has just to exist, rights.
Moral person
Also known as a legal person, it is an organization with rights and obligations that exists not as an individual but as an institution and is created by a group of natural persons with the aim of being for-profit or not.
A legal person is any entity with the ability to acquire rights and contract obligations and is not a natural person. This gives them the ability to act as subjects of law, that is, they can acquire and possess property, contract obligations, and exercise actions before the judge.
suggested video: Physical vs Legal Person
Differences between a Physical and Legal Person
- A natural person is any human being who, by the mere fact of being, is already recognized by the rule of law. That is, you already have rights and obligations under the law.
- A legal person is an entity made up of one or more natural persons who have the ability to act before a state of the law as a natural person, that is, they have the ability to own property and exercise legal actions.
