'Person' is ambiguous and can cause misunderstanding.

Finally, both 'persons' are not as common as one may believe: there are a lot of native documents and contexts using the words 'organisation' ('company', 'legal body' ) and 'individual' for the respective notions.

As to 'party', that's far from being universal. IMO

Collins Dictionary of Law © W.J. Stewart, 2006:

natural person — a human being, as opposed to an artificial or legal person like a company.

Gerald and Kathleen Hill Legal Dictionary:

natural person — n. a real human being, as distinguished from a corporation, which is often treated at law as a fictitious person.

Entity

Definition

A person or organization possessing separate and distinct legal rights, such as an individual, partnership, or corporation. An entity can, among other things, own property, engage in business, enter into contracts, pay taxes, sue and be sued.

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Note that the definition is free from 'legal bodies' but says 'organization', and person (as opposed to organization) is used in the meaning 'human', 'individual' exclusively. Exactly as I wrote earlier.

There are therefore two kinds of legal entities : human and non - human . In law , a human person is called a natural person (sometimes also a physical person ), and a non - human person is called a juridical person (sometimes also a juridic, juristic, artificial, legal , or fictitious person , Latin: persona ficta).

Таким образом, термин legal entity — общий для юрлиц и физлиц без различения таковых. А чтобы слово было одно, но описывать могло разное — это как раз person.

also a juridic, juristic, autistic...

В том-то и дело, что в слове legal заключено понятие "юридический" только у вас в вашем непереводческом понимании. А в определении из толкового словаря ничего там не заключено. Legal здесь — это то, что называется "ложные друзья переводчика".

Да, я не профессиональный переводчик, но много работы было связано с языком. Может, у меня и "непереводческое понимание" (судить не Вам, но возможно, тут Вы правы - оно больше общечеловеческое), но зато я не "включаю" такой плебейский тон в разговоре. Не рассчитывайте, что я опущусь до такого уровня.

Ну это у них и надо спрашивать. Чего вы ко мне дотеребились?

As to myself, I generally agree on this definition. But IMO it will come complete with confusion, misunderstanding, controversy , disputes , litigations, etc. up to potential liabilities for some party or other.

UPD. What? Reasons for me to feel insulted? I didn't notice any, really. I don't even see anything out there that disproves my standpoint.

There are several differences between a natural person and a legal person. For starters, a natural person is a real living human being, a person with a distinct personality. He generally has the power to think his own thoughts and make his own choices, though a person who is not competent to make his own decisions is still a natural person. The law considers a legal person to be an entity that is seen in the eyes of the law as having certain rights and privileges; that, while not human, is permitted to assert a legal claim, or be subjected to legal duties. For instance, a partnership or a corporation is considered a legal person, for the purposes of applying the law. A natural person can also be considered a legal person and can perform the functions of both. A legal person, of course, can only perform its functions through natural persons.

Source: https://legaldictionary.net/natural-person/