Limited liability only confers extra-contractual benefits to the shareholders in the case of tort against parties which hadn't contracted with the offending par

Limited liability only confers extra-contractual benefits to the shareholders in the case of tort against parties which hadn't contracted with the offending party. Before limited liability laws into effect, limited liability "already emerged through free contracting". [1] The common law version comes without the problematic 'limited liability for tort' element that limited liability statutes introduce. [1] https://web.archive.org/web/20240301154801/https://admin.fee.org/files/doclib/feat5.pdf https://web.archive.org/web/20240301154801/https://admin.fee...