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A corporation is an organization—usually a group of people or a company —authorized by the state to act as a single entity (a legal entity recognized by private and public law as "born out of statute"; a legal person in a legal context) and recognized as such in law for certain purposes. [1] : 10 Early incorporated entities were established ...
The body politic is a polity —such as a city, realm, or state —considered metaphorically as a physical body. Historically, the sovereign is typically portrayed as the body's head, and the analogy may also be extended to other anatomical parts, as in political readings of Aesop 's fable of "The Belly and the Members".
Strata management, sometimes known as "body corporate management", is a specialist area of property management involving the day-to-day operation and management of a property that is jointly owned and comprises multiple units, common areas and common facilities. It is derived from an Australian concept of property law called strata title ...
A juridical or artificial person ( Latin: persona ficta; also juristic person) has a legal name and has certain rights, protections, privileges, responsibilities, and liabilities in law, similar to those of a natural person. The concept of a juridical person is a fundamental legal fiction. It is pertinent to the philosophy of law, as it is ...
An earlier definition describes a statutory corporation as "a statutory authority that is a body corporate", and the New South Wales Government's Land Registry Services defines a state-owned corporation as "a statutory authority that has corporate status".
Body corporate is a term used in different legal systems to refer to a legal entity that can own property, sue and be sued, and have rights and obligations. It is often used to describe the collective owners of a condominium or a strata title property. Learn more about the history, types, and examples of body corporate on Wikipedia.
A statutory corporation is defined in the federal Department of Finance 's glossary as a "statutory body that is a body corporate, including an entity created under section 87 of the PGPA Act" (i.e. a statutory authority may also be a statutory corporation). [1] An earlier definition describes a statutory corporation as "a statutory authority ...
Governance. Governance is the process of making and enforcing decisions within an organization or society. It encompasses decision-making, rule-setting, and enforcement mechanisms to guide the functioning of an organization or society. Effective governance is essential for maintaining order, achieving objectives, and addressing the needs of the ...