Question

Question 1:
What is meant by a Guarantee Company? State the similarities and dissimilarities between a guarantee Company and a Company having Share Capital.
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Answer 1

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Dissimilarities between the Guarantee Company and the Company having share capital: Dissimilarities between the Guarantee company and the company having share capital is that in the former case the members may be called upon to discharge their liability only after commencement of the winding up and only subject to ...

Answer 2

Answer:

"Company limited by shares” means a company having the liability of its members limited by the memorandum to the amount, if any, unpaid on the shares respectively held by them. [sec. 2 (92)] “Unlimited company” means a company not having any limit on the liability of its members.