Limited liability  

From The Art and Popular Culture Encyclopedia

Jump to: navigation, search

Related e

Wikipedia
Wiktionary
Shop


Featured:

Limited liability is a legal status where a person's financial liability is limited to a fixed sum, most commonly the value of a person's investment in a company or partnership. If a company with limited liability is sued, then the claimants are suing the company, not its owners or investors. A shareholder in a limited company is not personally liable for any of the debts of the company, other than for the amount already invested in the company and for any unpaid amount on the shares in the company, if any. The same is true for the members of a limited liability partnership and the limited partners in a limited partnership.

See also




Unless indicated otherwise, the text in this article is either based on Wikipedia article "Limited liability" or another language Wikipedia page thereof used under the terms of the GNU Free Documentation License; or on research by Jahsonic and friends. See Art and Popular Culture's copyright notice.

Personal tools