This article describes 11 differences between Natural Person and Legal Person.
- A natural person is a human being.
- He has characteristics of the power of Thought speech and choice.
- A natural person is a real and living person.
- Slaves were also natural persons.
- The layman does not recognize idiot, company, corporation, idol etc. as persons.
- The only natural persons are human beings.
- He is also a legal person.
- Natural persons perform their functions and also perform the function of legal persons.
- Man is the only natural person.
- There is no such division in natural person.
- Natural person can live for a limited period. i.e. he cannot live more than 100 years.
- Legal person is being, real or imaginary.
- A legal person is any being whom the law regards as capable of rights or duties.
- Legal persons are also termed “fictitious”, “juristic”, “artificial” or “moral”.
- In older law, “slaves” were not recognized as persons.
- In law, idiots, dead men, unborn persons, corporations, companies, idols, etc. are treated as legal persons.
- There are several categories of legal persons recognized by law.
- “Although all legal personality involves personification, the converse is not true”.
- The legal persons perform their functions through natural persons only.
- There are different varieties of legal persons, viz. Corporations, Companies, Universities, President, Societies, Municipalities, Gramapanchayats, etc.
- There are two classes of corporation’s corporation sole and corporation aggregate.
- Legal person can live more than 100 years. Example: (a) the post of “American President” is a corporation, which was created some three hundred years ago, and still it is continuing. (b) “East India Company” was established in sixteenth century in London, and now still is in existence.