Which entity can be defined as an individual, association, partnership, or corporation?

The term that can be defined as an individual, association, partnership, or corporation is "person." In legal contexts, especially in real estate and business, the definition of "person" extends beyond just a natural individual to encompass various forms of collective entities, including associations and corporations. This broader definition is important because it allows for diverse entities to engage in contracts, including those related to buying and selling property, thereby facilitating transactions in the market.

In contrast, other terms mentioned, such as a buyer, real property, and bona fide, do not have the same comprehensive legal definition encompassing multiple forms of entities. A buyer refers specifically to an individual or entity purchasing, while real property pertains specifically to land and structures. Bona fide relates to authenticity or sincerity, rather than denoting a type of entity involved in transactions. Understanding this definition of "person" is vital for professionals in the auction and real estate fields, as it influences who can participate in legal agreements and transactions.