Limited Liability
.The liability of a shareholder in a company only for a fixed amount, generally the amount of the shares he has subscribed for. The Limited Liability Act was passed 1855.
The liability of a shareholder in a company only for a fixed amount, generally the amount of the shares he has subscribed for. The Limited Liability Act was passed 1855.
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Entry taken from Dictionary of Phrase and Fable, edited by the Rev. E. Cobham Brewer, LL.D. and revised in 1895.