📢 Too many exams? Don’t know which one suits you best? Book Your Free Expert 👉 call Now!

    Question

    A company limited by shares is a type of company where

    the liability of its members is ________________
    A Limited to the amount paid on the shares held by them Correct Answer Incorrect Answer
    B Unlimited to the amount unpaid on the shares held by them Correct Answer Incorrect Answer
    C Unlimited to the amount unpaid, if any, on the shares held by them Correct Answer Incorrect Answer
    D Limited to the amount unpaid, if any, on the shares held by them Correct Answer Incorrect Answer
    E To the amount up to which each member undertakes to contribute Correct Answer Incorrect Answer

    Solution

    Section 4. Memorandum: (1)(d)(i) in the case of a company limited by shares, that liability of its members is limited to the amount unpaid, if any, on the shares held by them.

    Practice Next
    More Administrative Interpretation and Maxims Questions
    ask-question