What is 'limited liability?' a. Limited liability refers to how much the directors have to contribute in the event of the company becoming insolvent. b. Limited liability refers to the ability of a...

Solve this question with steps please. The subject is legal environment of business (BUS 156).


Extracted text: What is 'limited liability?' a. Limited liability refers to how much the directors have to contribute in the event of the company becoming insolvent. b. Limited liability refers to the ability of a member to limit his liability. c. Limited liability refers to the directors' ability to limit their liability for acts of negligence, fraud etc. d. Limited liability refers to the ability of a company to limit its liability Clear my choice