Explain the following concept:Liability Clause – InterviewSolution

1.	Explain the following concept:Liability Clause
Answer» This clause defines the liability of the members of the company. In the case of companies limited by shares, the liability of the members is limited to the extent of unpaid shares. In the case of a company limited by guarantee, the liability is limited to the amount of guarantee given by each member. In the case of an unlimited liability company with or without share capital, this clause states that the liability of its members is unlimited.

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