Which term refers to an entity recognized by law as having legal personality?

The term that refers to an entity recognized by law as having legal personality is "Juridical Person." This designation includes both entities and organizations that are granted the capacity to sue and be sued, enter into contracts, and own property, similar to an individual person. Juridical persons encompass various organizations, such as corporations and non-profit organizations, which exist independently of the individuals who manage or own them.

While a corporation is an example of a juridical person, the term "juridical person" itself is broader, including various forms of organizations and legal constructs that have rights and responsibilities under the law. Natural persons refer to individual human beings and do not encompass organizations. A partnership, though it may hold some legal recognition, typically lacks the same independent legal capacity as corporations or organizations formally defined as juridical persons. Therefore, "juridical person" is the most accurate term to describe an entity with legal personality within the legal context.