Murphy, Joseph John. 'On the laws relating to joint-stock companies'. - Dublin: Dublin Statistical Society,Vol.II, Part VIII, 1857, pp27-36
Journal of the Dublin Statistical Society Vol.II, Part VIII, 1857
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.
Please note: There is a known bug in some browsers that causes an
error when a user tries to view large pdf file within the browser window.
If you receive the message "The file is damaged and could not be
repaired", please try one of the solutions linked below based on the
browser you are using.
Items in TARA are protected by copyright, with all rights reserved, unless otherwise indicated.