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With. 205 - 206]. Anyway, in 1856 the parliament has extended Restriction of responsibility on the registered corporations. Often believe that from the point of view of investors main advantage
The corporate form in absence of a private responsibility for enterprise debts.
But historical evidences are dual. Steel incorporated companies
The widespread phenomenon still before have acquired the right to the limited
Responsibility. Even after the parliament has legalised creation of corporations with
Limited liability, founders of corporations quite often declared about
Very big authorised capital stock, but took from subscribers only a part
Share nominal price. In case of insolvency subscribers bore
Responsibility, proceeding from a share nominal price; thus, founders
Corporations used not to the full all possibilities represented
The law on limited liability. Between 1856 and 1882 years an average price
Shares for shareholders fluctuated from 13,3 % of its face-value in 1869
To 57,81 % in 1858 Cottrell, table 4, p. 85, Industrial Finance, 3. Such
In the image, responsibility restriction was not the major property of corporations.
In the United States history of creation of the corporations registered in frameworks
The general corporation laws, it is in some respects similar that
Occurred in England. In both countries they have appeared at the third stage, after
That as corporations, created for religious became habitual,
The charitable and municipal purposes Business History Review 52
(Spring 1978): pp. 30 - 60, "The Public Service
Origins of the American Business Corporation ", Ronald E. Seavoy, and after the period of distribution licensed
Corporations. There is even a known parallelism between the British
Use of not formalized incorporated companies and American
Use of industrial trusts [in New England them often named
It seems that in the United States advantages of limited liability
Were underlined more strongly, than in Britain. [According to legislatively
The confirmed charters of the first business corporations of America managers, seemingly,
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