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


BCS 202/05 Corporate Compliance Management Copyright © 2011 by Wawasan Open University. All Rights Reserved.


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