Module 18 min884 wordsFree — no account
What « limited liability » actually means
The module’s worked examples, then cases to attempt before revealing their solution · 1 section · 62 words · 1 min
Worked example
Where Karim's protection stops
Against the €90,000 of debt, his €5,000 contribution is lost and nothing further can be claimed from him as a member. But if he signed a personal guarantee on the €40,000 bank loan, he owes that €40,000 out of his own assets. And if mismanagement is found against him as manager, his liability may extend beyond his contribution.
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