alleryIn a company limited by shares, the liability of a member is limited to:
AThe amount, if any, unpaid on the shares held by him
BThe company's total debts
CA sum guaranteed in the memorandum
DHis entire personal property
Answer & Solution
Correct answer: A. The amount, if any, unpaid on the shares held by him
In a company limited by shares, a member can be called on to pay only the unpaid amount on his shares
his separate property is not liable.
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