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15 Unlimited companies

Unlimited companies

1.  The important feature of an unlimited company is that the liability of its members is unlimited.

2.  Even though, the company is a separate legal personality and can trade in its own name, the members’ liability resembles that of a partnership.

3.  However, it is to be noted that the members’ unlimited liability is to the company itself and not to the company’s creditors.

 

Activity 1.2
Question to Activity 1.2 Suggested answers to activity 1.2

License

Unlimited companies Copyright © 2011 by Wawasan Open University. All Rights Reserved.

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