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Legal entity refers to anything other than a natural person that can function legally, enter into a contract, sue or be sued, and make decisions through agents. A legal entity, under the law, is responsible for its actions and can be sued for damages. For example, a corporation is a legal entity.
The following is an example of a State Statute (Georgia) defining Legal Entity:
According to O.C.G.A. § 31-22-9.1,"Legal entity" means a partnership, association, joint venture, trust, governmental entity, public or private corporation, health care facility, institutional care facility, or any other similar entity.