Learning outcome and Limited liability company: Difference between pages
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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). | |||
Often abbreviated to 'limited company'. | |||
[[ | |||
[[Category: | == See also == | ||
* [[Guarantee]] | |||
* [[Limited liability]] | |||
* [[Member]] | |||
* [[Public limited company]] | |||
* [[Share]] | |||
* [[Unlimited company]] | |||
[[Category:Accounting,_tax_and_regulation]] | |||
[[Category:The_business_context]] | [[Category:The_business_context]] | ||
Revision as of 20:50, 18 December 2020
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).
Often abbreviated to 'limited company'.
