Person Meaning & Definition

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Definition of Person

Person is any individual or entity, which can enter into a legally binding contract for the purchase and sale of securities.

Applying "Person" to Securities Exams:

A natural person may establish any number of legal entities in order to transact business. Corporations, partnerships and LLC are just some examples. For the various FINRA, NASAA and CFP exams a person not only includes a natural person any entity that may enter into a legally binding contract.