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Question
What is a company limited by guarantee?
Short Answer
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Solution
A company limited by guarantee is a type of registered company where the liability of each member is limited to the amount they have undertaken to contribute to the company’s assets in the event of winding up. This guaranteed amount is stated in the memorandum of association and may vary among members.
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Chapter 4: Ownership Structures - Joint Stock Company - EXERCISES [Page 54]
