单词 | unlimited liability |
释义 | > as lemmasunlimited liability 4. Business (now chiefly British). With reference to the legal liability of a person to pay all the debts incurred by a business in which he or she has invested: not limited to the amount invested; chiefly in unlimited liability (cf. limited liability n. at limited adj. and n. Compounds). Hence: of, designating, or relating to a company, etc., whose members' liability for its debts is not legally limited to the extent of their investment; (also, of a person) having unlimited liability for the debts of a company. Cf. limited company n. at Compounds, limited partner n. at limited adj. and n. Compounds. ΚΠ 1815 Daily National Intelligencer (Washington) 21 Oct. The doctrine of the unlimited liability of stockholders in unchartered companies, is here directly advanced. 1870 Law Times 12 Nov. 353/2 In the case of an..unlimited company, it must be presumed that the partnership or the company is able to pay its debts in full until the contrary is shown. 1902 Amer. Law Reg. 50 610 A partner's liability is unlimited and whatever he might individually obtain from the firm assets would be liable to attachment by firm creditors who had not received full satisfaction for their claims out of firm assets. 1921 Bull. Photogr. 20 July 87/1 Even a small holding in an unlimited liability company may involve the risk of losing far more than he can ever hope to possess. 1985 Jrnl. Financial & Quantitative Anal. 20 387 The prices consumers pay for products were assumed to be independent of the legal form of the producing entity (i.e. a limited liability corporation vis-a-vis an unlimited partnership). 1996 Introd. to Official List 56 GBGH was incorporated as an unlimited company on 15 April 1996 and is a wholly-owned subsidiary of British Gas. The company was re-registered as a limited company on 4 July 1996. 2012 Irish Times (Nexis) 1 June (Finance section) 4 One of seven unlimited partners at Bloxham who face personal liability for any shortfall at the firm. < as lemmas |
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