Nolimit Private Company is incorporated as unlimited company having share capital of 10,00,000. One of its...
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Nolimit Private Company is incorporated as unlimited company having share capital of 10,00,000. One of its creditors, Mr. Samuel filed a suit against a shareholder Mr. Innocent for recovery of his debt against Nolimit Private Company. Mr. Innocent has given his plea in the court that he is not liable as he is just a shareholder. Explain, whether Mr. Samuel will be successful in recovering his dues from Mr. Innocent? Nolimit Private Company is incorporated as unlimited company having share capital of 10,00,000. One of its creditors, Mr. Samuel filed a suit against a shareholder Mr. Innocent for recovery of his debt against Nolimit Private Company. Mr. Innocent has given his plea in the court that he is not liable as he is just a shareholder. Explain, whether Mr. Samuel will be successful in recovering his dues from Mr. Innocent?
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Introduction to Law and the Legal System
ISBN: 978-0495899334
10th Edition
Authors: Frank August Schubert
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