What is a natural and legal person?

A natural person is a human being, while a legal person is an entity that has legal rights and responsibilities, such as a corporation, organization, or government agency. Both natural and legal persons can enter into contracts, own property, and be held liable for their actions.

Natural Person

- A living human being
- Has rights and duties
- Can enter into legal contracts
- Possesses legal capacity

Legal Person

- An entity recognized by law as having rights and obligations
- Can exist as a:
- Corporation
- Partnership
- Association
- Government agency

Distinctions between Natural and Legal Persons

| Feature | Natural Person | Legal Person |
|---|---|---|
| Existence | Physical | Legal |
| Capacity | Limited | Determined by law |
| Liability | Personal | Limited or unlimited depending on the legal structure |
| Rights | Human rights | Legal rights |
| Taxation | Personal income tax | Corporate tax |
| Dissolution | Death | Dissolution or liquidation |