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Joint Stock Company — Secretarial Practice STD 11 Commerce / Arts — Question

Maharashtra BoardEnglish MediumSTD 11 Commerce / ArtsSecretarial PracticeJoint Stock Company2 Marks
Question
Unlimited Liability company
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Answer

  • The liability of members of such a company is unlimited.
  • The members are liable to pay the debts of the company.
  • Private property may be used to pay the companies debts.
  • Private company Public companies and even One Person, a private company may be formed as unlimited Liability company.

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