limited liability


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Related to limited liability: Share capital, limited partnership, Sole proprietorship, Legal entity, Legal personality

limited liability

n
(Stock Exchange) Brit liability restricted to the unpaid portion (if any) of the par value of the shares of a limited company. It is a feature of share ownership

limited liability

If a company goes bankrupt and has limited liability, the owners of the company (the shareholders) are only obliged to pay back company debts with the money they have already invested in the firm. They will not be forced to sell their personal possessions to help pay debts.
ThesaurusAntonymsRelated WordsSynonymsLegend:
Noun1.limited liability - the liability of a firm's owners for no more than the capital they have invested in the firm
financial obligation, indebtedness, liability - an obligation to pay money to another party
References in classic literature ?
I suppose I can't very well turn myself into a Limited Liability Company.
2) This argument challenges the longstanding assumption of the optimality of limited liability.
The law authorises a natural person to establish and own a single-person limited liability company whose owner shall only be liable for its obligations as per the capital stated in the articles of association under the limited liability company provisions.
In this article I shall mention the main forms of profit-seeking legal entities in Lithuania and review the registration procedure of the most popular one--the registration of a private limited liability company (in Lithuanian &nd roji akcin< bendrov<, abbreviation--UAB).
State lawmakers recently allowed for the creation of Low-Profit Limited Liability Companies (called L3Cs) for groups advancing educational or charitable purposes.
Example: Two partners of a domestic eligible entity are a domestic corporation, D, and a domestic limited liability company, L.
Decide the state in which the Limited Liability Company will be formed.
Peter Von Der Ahe, Scott Edelstein, and Seth Glasser, represented the seller, a limited liability company, and the buyer, a limited liability company.
Although all previous obligations and debts that were personal obligations of partners will remain their personal obligations, any obligations incurred after the conversion will be subject to the limited liability provisions of the new law.
are carried on through limited partnerships (LPs), S corporations or limited liability companies (LLCs).
The Michigan Limited Liability Company Act permits a new type of business entity to be formed and operated in Michigan -- a Limited Liability Company.
The DOR issued Letter Ruling 02-7, which solved the aforementioned problems by allowing a limited liability partnership (LLP) in place of an MBT.

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