Limited Liability of Shareholders: Status Quaestionis
DERECHO DE SOCIEDADES Y GOBIERNO CORPORATIVE, Flor de María Cordova, ed., p. 398, Grijley, Lima, 2008
11 Pages Posted: 6 Feb 2010
Date Written: September 2007
This short article describes the legal and economic doctrines on which limited liability of shareholders is based. Its main contribution to the debate lies in downplaying the alleged special protection needs of tort creditors. It is submitted that tort creditors are protected by the general tort law and therefore no need for limiting the scope of limited liability is needed even in the realm of close corporations.
Notes: Downloadable document is in Spanish.
Keywords: limited liability, shareholders, creditors
JEL Classification: G34
Suggested Citation: Suggested Citation