While there are many forms of business organisation (e.g. sole traders, partnerships, trusts), corporations have become the dominant model across modern societies like Australia. The corporate form does vary globally, however the essential features are common across many jurisdictions, particularly Anglo-American jurisdictions such as Australia, United States and the United Kingdom. There are some common features of the corporate form which are particularly important when considering how to 'regulate' the activities of a corporation and how to hold a corporation accountable for non-compliance with environmental law and for otherwise causing environmental harm. Most of the features listed below are common features of the public corporation. Which of these characteristics is NOT a general feature of the public corporation? a. Limited Liability - whereby the shareholders or members are not personally responsible for the company's debts or liabilities; or are only liable to a certain extent. b. Legal Personhood - the ability to buy and sell property, borrow money, bring legal proceedings and be the subject of legal proceedings, and to carry on a business. C. An arrangement where the business is owned by shareholders / members, but managed by a board of directors. d. A business arrangement where the business owner is personally liable for all financial obligations and debts of the business.