If the properties of a company are insufficient to repay all its debts, can the balance amount be repaid with the private properties of the members of that company. Give reason.

Asked by Last Modified  

Follow 2
Answer

Please enter your answer

No, if the company fails to repay all its debs, the private property of the members or shareholders cannot be used to settle out company's liabilities since a company is a seperate identity from its members in the eyes of law.
1 Comments

Related Questions

State the features of cottage industries.
Cottage industries are the type of industries where artistic and creative goods are produced using manual labour and techniques—for example, the handloom and the weaving industry. The features of...
Profile Photo
Jainam
I am a storyteller. I am willing to train Business people in storytelling? How do you think should I go about it?
Hi Alvin, You can create profile and post your requirement on portal and you will surly get the response. Thank!
Profile Photo
Alvin Raja
0 0
View Comments8
Why is cellular phone or cellphone called a mobile phone?
Mobile means movable or moving. Anything which is moving or can be moved is called mobile. So, when we talk about cell phone, we see that it is a communication device, it has no wire, it is not fixed,...
Profile Photo
Mohammad
0 0
View Comments5
Elaborate the steps involved in on-line trading.
Steps involved in online trading are:1.Registration: Before online shopping, one has to register with the online vendor by filling up a registration form. Registration means that you have an 'account'...
Profile Photo
Jitender
0 0
View Comments6
Discuss the features of departmental store. How are they different from multiple shops or chain stores?
A departmental store is a large establishment offering a wide variety of products, classified into well-defined departments, aimed at satisfying practically every customer's need under one roof. It has...
Profile Photo
Sahiba
0 0
View Comments5

Now ask question in any of the 1000+ Categories, and get Answers from Tutors and Trainers on UrbanPro.com

Ask a Question

Related Lessons

Recommended Articles

Once over with the tenth board exams, a heavy percentage of students remain confused between the three academic streams they have to choose from - science, arts or commerce. Some are confident enough to take a call on this much in advance. But there is no worry if as a student you take time to make choice between - science,...

Read full article >

While schools provide formal education to the children, the home is where they start learning about things informally. Parents think that schools will take the initiative to educate their children. Well, this is partially true, as parents also play an essential role in bringing up their child. For the development of particular...

Read full article >

With the mushrooming of international and private schools, it may seem that the education system of India is healthy. In reality, only 29% of children are sent to the private schools, while the remaining head for government or state funded education. So, to check the reality of Indian education system it is better to look...

Read full article >

Appearing for exams could be stressful for students. Even though they might have prepared well, they could suffer from anxiety, tension etc. These are not good for their health and mind. However, following a few exam preparation tips can save them from all these and help them to score good marks. Let’s find out all...

Read full article >

Looking for Class 11 Tuition ?

Learn from the Best Tutors on UrbanPro

Are you a Tutor or Training Institute?

Join UrbanPro Today to find students near you