【英语翻译Limitedliabilityisafundamentalprincipleofcorporatelaw.Yetliabilityhasneverbeenabsolutelylimited.Courtsoccasionallyallowcreditorsto“piercethecorporateveil”whichmeansthatshareholdersmustsatisfycredit】

　　英语翻译

　　Limitedliabilityisafundamentalprincipleofcorporatelaw.Yetliabilityhasneverbeenabsolutelylimited.Courtsoccasionallyallowcreditorsto“piercethecorporateveil”whichmeansthatshareholdersmustsatisfycreditors’claim.Theruleoflimitedliabilitymeansthattheinvestorsinthecorporationarenotliableformorethantheamounttheyinvest.

　　Apersonwhopays$100forstockrisksthat$100,butnomore….HenryManne,inanimportantcontribution,arguesthatthemodernpubliclyheldcorporationwithmanysmallshareholderscouldnotexistwithoutlimitedliability.Ifinvestorscouldberequiredtosupplyunlimitedamountsofadditionalcapital,wealthypeoplewouldbereluctanttomakesmallinvestments.Everyshareofstockwouldplacealloftheirpersonalassetsatrisk.Toguardagainstthisrisk,theinvestorwouldreducethenumberofdifferentfirmsheholdsandmonitoreachmoreclosely.