A feature common to public and private limited liability companies is that

Assessment: JAMB UTME - Commerce - 2012 Subject: Commerce

Question 1 Report

A feature common to public and private limited liability companies is that
Answer Details
A feature common to both public and private limited liability companies is that they can both sue and be sued. This means that if either a public or private limited liability company is involved in a legal dispute, they have the ability to take legal action and also defend themselves in court. This is an important aspect of being a limited liability company, as it provides protection for the owners and shareholders of the company by limiting their personal financial liability in the event of a legal dispute or bankruptcy.
Read lesson note on Legal Aspects Of Business (JAMB)
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