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  • LIMITED LIABILITY COMPANIES
    ECONOMICS

    LIMITED LIABILITY COMPANIES

    DEFINITION OF A COMPANY A company can be defined as a legal person or entity created by the association of a number of people in accordance with the law for the purpose of pooling their capital together in order to set up a business venture. Examples of limited liability companies are Dunlop Nigeria Plc ., Guinness Nigeria Plc ., C.F.A.O. Nigeria Plc ., Julius Berger Nigeria Plc and Evan Medical Plc. A company is an artificial person and is more than a mere association of individuals. It is a legal person with a personality of its own.   TYPES OF COMPANIES Unlimited liability companies: In an unlimited liability company, the…

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