Natural Person


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Related to Natural Person: Legal person

Natural Person

 

a term used in the legislation of many countries to designate a person having civil rights and duties. The natural person is contrasted with the legal person, an organization having civil rights and obligations. Soviet civil legislation does not employ the term “natural person,” substituting the word “citizen.” To participate in legal relationships a citizen must have formal legal capacity.

References in periodicals archive ?
5.Determination of natural person who ultimately owns the corporation through indirect ownership following the 'Grandfather Rule' methodology.
In addition, a natural person, who is licensed to exercise a profession, may not organize as an OPC for the purpose of exercising such profession unless provided under special laws, the SEC said.
A natural person who is licensed to exercise a profession may not organize as an OPC for the purpose of exercising such profession, unless provided under special laws.
In case no natural persons are identified after having exhausted all possible means, or there is any doubt that the persons identified are the beneficial owners, there shall be entered in the register of beneficial ownership the names of the natural person(s) who hold the position of senior managing official(s) of the company.
In case no natural persons are identified after having exhausted all possible means or there is any doubt that the persons identified are the beneficial owners these shall be entered in the register of beneficial ownership the names of the natural person(s) who hold the position of senior managing official(s) of the company.
Credit institutions and natural persons could only agree on such method of credit repayment in cases when credit is extended to a natural person.
One secretary is required, who must be natural person. However, a director or natural person shareholder can also be a secretary.
It states that "'Employee' means: (1) any natural person: (a) while in your service and for the first 30 days immediately after termination of service ...; (b) who you compensate directly by salary, wages or commissions; and (c) who you have the right to direct and control while performing services for you ...
The two primary types of legal persons are a natural person and a juristic person.
They argue that, for income tax purposes, each one of us is, in fact, two people: the natural person, or the individual that performs the labour required to earn income; and the legal person, the legal entity that the federal government creates by issuing a social insurance number (SIN).
"US Central, as an agent group representative, purchased stock on behalf of all the natural person credit unions which are members of its respective corporate credit union membership that are not regular (direct) members of the facility.
According to Article 6.350, part 1 of the Civil code of the Republic of Lithuania, under the consumer contract of purchase-sale, the seller, who is the person engaged in trade, or his agent, obligates himself to sell a good--a movable thing--to the buyer-a natural person for his personal, family or household needs, not related to business or profession, while the buyer obligates himself to pay the price.