Problem 1: In a limited company: the member has no liability to creditors of the company and a lin1ited liability to the company. Explain what this means. Your explanation should contain reference to the any relevant section/s and case law
Problem 2: In an unlimited company the member has no liability to creditors of the company and an unlimited liability to the company. Explain what this means.
Problem 3: From the statements above that with regards to creditors of the company, there is no difference between the position of a member of a limited company and an unlimited company. Why is there no difference?
Problem 4: Under the Cos Act 2015 a company categorized as a private company will be further sub categorized as either a small, medium or large private company. Required: What is the legal significance of this further sub-classification? Include reference to any relevant section/s.
Problem 5: All listed companies are public companies. Are all public companies listed companies? Provide reasons in support of your answer.
Problem 6: Suppose you are a member of a company limited by guarantee. How can you prove that? Include reference to any relevant section/s.