Q: When was the concept of limited liability first introduced?

Ans: In the 17th century, the joint stock charters were awarded by the crown to monopolies such as the East India Company. The world's first modern limited liability law was enacted by the state of New York in 1811. In England,  it was to be incorporated a joint stock company following the Joint Stock Companies Act 1844 as well as Joint stock companies act, 1850 even if the investors in such companies carried unlimited liability until the Limited Liability Act 1855.

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