Private limited company accounting methods and taxes, is thorough and detailed. The Swiss Code of Obligations provides for different kinds of companies with limited liability, the two most commonly used are: Swiss Limited Liability Company: The terms for this kind of company used in the three official languages of the Swiss Confederation are as follows: In German "Gesellschaft mit beschränkter Haftung" (abbreviation: "GmbH"), in French "Société à responsabilité limitée" (abbreviation: "S.à r.l." or "SARL") and in Italian "Società a Garanzia Limitata" (abbreviation: "SaGL"). A Swiss LLC is similar to an LLC with respect to various matters, including the following: Members may also be
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.