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Business Definition for: person

person

an individual, trust, estate, partnership, association, company, or corporation having certain legal rights and responsibilities.

person

in law, an entity having legal responsibility. Legally, a natural person is a human being who has reached majority (Compare with minor ). An artificial person may be a corporation ; in some instances partnerships , governments, and certain other bodies are considered persons.

Example: negotiating a contract, it is important to deal with a person; otherwise the contract may be unenforceable.

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