The next, essential improvement, then, was the Limited Liability Act 1855, handed at the behest of the then Vice President of the Board of Trade, Mr. Robert Lowe. This allowed investors to limit their liability within the event of business failure to the quantity they invested in the firm – shareholders have been still liable directly to collectors, however just for the unpaid portion of their shares.
Synonyms & Antonyms for company
However, the overwhelming majority of corporations purpose to supply a return for its shareholders. Shareholders, as house owners of a percentage of the company, are solely answerable for … Read More