Step-by-step explanation:
Limited and unlimited liability mainly talk about the duties that the owners have in front of them. They say whether the owners are obliged only in proportion to the sum they have invested in the company or if they can also be held liable personally in case of any losses. In the former case, the personal properties of the owners or investors will not be forfeited if the company suffers losses or goes bankrupt. The personal properties of the investors will also be at stake in the event the firm goes bankrupt.
I hope my answer was helpful.