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limited company
A Dictionary of Finance and Banking, January, 1997
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limited company A company in which the liability of the members in respect of the company's debts is limited. It may be limited by shares, in which case the liability of the members on a winding-up is limited to the amount (if any) unpaid on their shares. This is by far the most common type of registered company.
The liability of the members may alternatively be limited by guarantee; ...
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