Limited company: Difference between revisions
From ACT Wiki
Jump to navigationJump to search
imported>Brianlenoach@hotmail.co.uk No edit summary |
imported>Doug Williamson (Spacing.) |
||
Line 1: | Line 1: | ||
Abbreviation for Limited liability company. | Abbreviation for Limited liability company. | ||
In a limited liability company the liability of the members is restricted to a predefined amount. | In a limited liability company the liability of the members is restricted to a predefined amount. |
Revision as of 08:23, 12 December 2014
Abbreviation for Limited liability company.
In a limited liability company the liability of the members is restricted to a predefined amount.
In the case of a company limited by shares the members' liability is restricted to the amount, if any, unpaid on the shares they hold.
Almost all commercial companies are of this type.
In a company limited by guarantee the liability of the members is restricted to a predefined amount which the members guarantee to contribute (on the event of any winding up of the company).