ABSTRACT
The term “limited,” in the name of the company constituted under the act, is probably intended to operate as a notice to all persons dealing with it, that the authority of the directors or officers is restricted, and as a clause in every contract made with the company that its creditor shall look for payment to its property only. In order to obtain limited liability under the recent act of parliament, a company must be formed for a commercial purpose, or purpose of profit : it must be constituted by deed of settlement. The promoters, before advertising it, must obtain a certificate of provisional registration from the registrar of joint stock companies.
