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InterviewSolution
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Explain Company Limited By Guarantee? |
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Answer» Companies where liability of members is always limited to a FIXED amount agreed by its members to contribute towards the assets of the COMPANY is is known as a company limited by guarantee. In such companies the articles SHALL state the number of members with which the company is to be registered. Thus, the amount promised to pay by a member of a company limited by guarantee is CALLED the guarantee. Companies where liability of members is always limited to a fixed amount agreed by its members to contribute towards the assets of the company is is known as a company limited by guarantee. In such companies the articles shall state the number of members with which the company is to be registered. Thus, the amount promised to pay by a member of a company limited by guarantee is called the guarantee. |
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