The members of a limited liability company have unlimited liability for any loss or injury caused by the wrongful acts or omissions of the firm.

Question

The members of a limited liability company have unlimited liability for any loss or injury caused by the wrongful acts or omissions of the firm.​

Quizplus · Accepted Answer

The whole idea behind a limited liability company is that the members have limited personal liability for the actions of the business. This means that the members' personal assets are generally protected from any legal claims against the company.

The Members of a Limited Liability Company Have Unlimited Liability