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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.

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