Individual person – this term finds application in the area of Law of Contract. There it refers to the figure of a person, who performs legal actions in his personal capacity as a physical person. In other words, the term does not refer to a corporate entity or their representatives. And most of all, any actions done by the said parties. Usually, in practice, the physical individual performs legal actions for himself and in their own account. And he is not representing any corporate bodies or organizations. In a legal point of view, rights of physical individuals differ than the rights of corporate entities.