The members of a limited company are only liable up to the amount of the company’s debts they have agreed to cover. What is meant by this?
- AMembers are equally liable for the debts of the company.
- BMembers are liable only up to the value of their personal assets.
- CMembers are liable only up to the amount they agree to pay for their shares in the company.
- DMembers are liable only up to the value of the debentures they hold in the company.