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Limited company
Limited companyAll companies have limited liability except for those incorporated as unlimited companies. The latter are rarely encountered and tend only to be used to serve specific tax or accounting arrangements. RELATED TERMS-------------------------------------- Liability A person or organization's extent of responsibility for a loss. An item of value that is part of the overall debt or obligation of a person or business. SIMILAR TERMS-------------------------------------- Limitation Estates. When an estate is so expressly confined and limited by the words of its creation, that it cannot endure for a longer time than till the contingency shall happen, upon which the estate is to fail, this is denom-inated a limitation; as, when land is granted to a man while he continues unmarried, or until the rents and profits shall have made a certain sum, and the like; in these cases the estate is limited, that is, it does not go beyond the happening of the contingency. Limitation of shipowners' liability The ancient right of shipowners, later extended to charterers, managers, salvors and insurers of ships, to limit their liability for certain maritime claims, either to a sum representing the value of the vessel and pending freight after the casualty, or to a sum determined by the tonnage of the vessel, depending upon the jurisdiction concerned and the applicable or national law. Limited jurisdiction Refers to courts that are limited in the types of criminal and civil cases they may hear. For example, traffic violations generally are heard by limited jurisdiction courts. Limited liability Shareholders in a limited company are only liable to third parties to the limit of their shareholding. Other participants would not normally have any personal liability except with respect to creditors where there has been wrongful or fraudulent trading or when personal guarantees or other such undertakings have been given by directors or others. Limited partner A unique colleague in a partnership relationship who has agreed to be liable only to the extent of his (or her) investment. Limited partners, though, have no right to manage the partnership. Limited partners are usually just investors or promoters who seek the tax benefits of a partnership Limitrophe Adjacent, bordering or contiguous. PREVIOUS AND NEXT TERMS-------------------------------------- Lighters Commerce. Small vessels employed in loading and unloading larger vessels. Lights Those openings in a wall which are made rather for the admission of light, than to look out of. Limbs Those members of a man which may be useful to him in flight, and the unlawful deprivation of which by another amounts to a mayhem at common law. Limitation Estates. When an estate is so expressly confined and limited by the words of its creation, that it cannot endure for a longer time than till the contingency shall happen, upon which the estate is to fail, this is denom-inated a limitation; as, when land is granted to a man while he continues unmarried, or until the rents and profits shall have made a certain sum, and the like; in these cases the estate is limited, that is, it does not go beyond the happening of the contingency. Limitation of shipowners' liability The ancient right of shipowners, later extended to charterers, managers, salvors and insurers of ships, to limit their liability for certain maritime claims, either to a sum representing the value of the vessel and pending freight after the casualty, or to a sum determined by the tonnage of the vessel, depending upon the jurisdiction concerned and the applicable or national law. Limited company Limited jurisdiction Refers to courts that are limited in the types of criminal and civil cases they may hear. For example, traffic violations generally are heard by limited jurisdiction courts. Limited liability Shareholders in a limited company are only liable to third parties to the limit of their shareholding. Other participants would not normally have any personal liability except with respect to creditors where there has been wrongful or fraudulent trading or when personal guarantees or other such undertakings have been given by directors or others. Limited partner A unique colleague in a partnership relationship who has agreed to be liable only to the extent of his (or her) investment. Limited partners, though, have no right to manage the partnership. Limited partners are usually just investors or promoters who seek the tax benefits of a partnership Limitrophe Adjacent, bordering or contiguous. Line 1) Measures. A line is a lineal measure containing the one twelfth part of a on inch. 2) Estates. The division between two estates. Limit; border; boudary. We thank you for using the Juridical Dictionary to search for Limited company. If you have a better definition for Limited company than the one presented here, please let us know by making use of the suggest a term option. This definition of Limited company may be disputed by other professionals. Our attempt is to provide easy definitions on Limited company and any other medical topic for the public at large.
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