What is meant by a juridical person?

A juridical person refers to an entity that has legal rights and responsibilities, similar to a natural person, but is not a physical individual. This classification includes corporations, partnerships, associations, or other organized groups that can engage in legal actions, such as entering contracts, owning property, and being sued or suing in their own name.

The distinction is significant because it allows for the separation of personal liability and obligations from those of the entity itself. For example, if a corporation incurs debt or is sued, the individuals who manage or belong to the corporation are typically not personally liable for the corporation's obligations, thus offering protection to its shareholders.

Understanding the nature of juridical persons is crucial for notaries in Louisiana, as they often encounter documents involving corporate entities and must understand how these entities operate legally. While other choices reference various legal concepts, they do not encapsulate the definition of a juridical person, which is specifically tied to the idea of legal entities having their own distinct rights and responsibilities.