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The Origin of General Limited Liability in the United Kingdom

Category: Ionian History
Type: Article
Book Title: Η ασφάλιση των γαλαξειδιώτικων πλοίων
Author: French E. A.
Editor: Kiraly K. Bela
Journal: Accounting and Business Research
Pages: 15-34
Issue: 81
Volume: 21
Library catalog: Wilson Library, University of Minnesota
Date: Winter 1990
Language: English

Abstract:

[15] In 1854 the debate on the question of whether or not general limited liability should be introduced into Britain was reaching its climax. There was a great contrariety of opinion. Some opposed limited liability as being morally wrong, in that it involved dishonouring obligations freely undertaken. Others argued for its introduction. They believed it would facilitate the finance of large scale activity, a need heralded by the arrival or the railways.


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