what is a full non limited company?

Answer 1

There is no such thing, all companies have limited liability which means that the directors / shareholders are not personally responsible for the debts of that company and are only liable for what they have invested. Sole traders (1 person) and partnerships have unlimited liability which means the partners' personal assets can be confiscated to pay for the debts of the partnership.

Answer 2

A company with unlimited liabilities will be a full non limited company. Actually, such a company will take the form of partnership firm or 'association of persons' as designated by the Income Tax Act.

In a limited company, the shareholders' or stakeholders' liability is limited to the amount of share capital contributed by them or agreed to be contributed by them. That is why the world 'limited' comes to be suffixed to the name of the company.

Non limited companies or partnership firms as they are known in business parlance involve total commitment by all partners. In the event of winding up of the company, the partners are obliged to meet all their liabilities to the last rupee, by selling even their own assets (except cooking utensils, wearing apparel etc.) including their house, car etc.

Answer 3

this refers to individauls,sole owner or partnership set ups but even with partnershp there is limited liability

Answer 4

Perhaps a Partnership, eg solicitor, or a Proprietorship, eg small trader