FM Pty Ltd purchase several computers for $5,000. It pays $3,000 when the computers are delivered to its registered office and the remaining $2,000 is to be paid in equal instalments over the next six months. The company pays the first two instalments and then fails to pay the remaining instalments as it becomes insolvent. Several of the company's shareholders own partly-paid shares. How would the concept of Limited Liability apply in this situation to the company and to the owners of the partly-paid shares? Explain using IRAC.