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On the laws relating to joint-stock companies

Institution: Dublin Statistical Society

The limited liability act of 1856 has placed the law of joint-stock
companies in a satisfactory state, so far as regards the position of the
shareholders. They can obtain a charter of incorporation by simply
^plying for it, and the liability of shareholders is limited to
the amount of the shares.
But if the principle I have stated is sound — that mercantile
liability for the consequences of a man's own actions ought to be
unlimited — it follows, that in every concern the acting partners
ought to be under unlimited liability. The acting partners of a
joint-stock company are the directors; and yet the law does not
recognise their unlimited liability. This ought to be changed.



Suggested citation:

. () On the laws relating to joint-stock companies [Online]. Available from: [Accessed: 15th October 2019].


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