Legal Entity

Legal Entity in International Trade

Meaning of Legal Entity, according to the Dictionary of International Trade (Global Negotiator): And individual, proprietorship, partnership, corporation, association, or other organization that has, in the eyes of the law, the capacity to make a contract or an agreement, and the abilities to assume an obligation and to discharge indebtedness. A legal entity is a responsible being in the eyes of the law and can be sued for damages if the performance of a contract or agreement is not met. See also a juridical person.