Explain the following concept: Limited Liability

1. In a Joint Hindu Family Business, there are two types of members – Karta and Coparceners.  2. The karta has unlimited liability and he is the only decision making authority....

i. Yes, this is a One Person company, because only one/single person is a member of this company. ii. The liability of Mr. Manoj is limited. iii. No, Company will not close down on the...

The liability of shareholders of the company is always limited. It is limited to the extent of the unpaid part of the face value of the shares held by them. Personal...

i. (b) Liability ii. (c) Capital iii. (a) Articles of Association iv. (a) members v. (b) Prospectus vi. (b) Shelf vii. (a) Red Herring Prospectus

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...

Limited Liability Partnership

i. No, ZEN Limited cannot invest in the shares of itself. ii. Yes, ZEN Limited can invest in the shares of TEN Limited. iii. Justification: ZEN limited being a legal person can be a member of...

Correct option is (b) Contingent

LLP means where partners have limited liability and the personal assets of partners are not attached.