Limited company a distinction to be made between the publicly tradable companies of the "plc" type (for example, the German Aktiengesellschaft (AG), British PLC, Czech a.s., Italian S.p.A., Hungarian Zrt. and the Spanish, French, Polish, Greek and Romanian S.A.), and the "private" types of company (such as the German GmbH, Portuguese Ltda., British Ltd., Polish sp. z o.o., the Czech s.r.o., the French s.a.r.l., the Italian and Romanian s.r.l., Hungarian kft. and Slovak s.r.o.) This is a company that does not have share capital, but is guaranteed by its "members", who agree to pay a fixed amount in the event of the
Interest of the company may nonetheless be ratified by the shareholders of the company, and will thereby be binding upon the company, see for example under English law, "Multinational Gas and Petrochemical Co v Multinational Gas and Petrochemical Services Ltd" [1983] Ch 258. The rule is generally seen to be particularly harsh towards both third parties and against directors, who could be regarded as being in breach of their duty merely by acting with what others might regard as common human decency. Where the company's property could not be recovered from the third party, the directors would be personally liable to recompense the company.