Question

1. Arora brothers is a firm comprising of 5 partners who have contributed Rs.100,000 for their business and sharing profits and losses equally. But as per their agreement, there are only 4 partners name shown in the list for a business meeting where everyone's presence was required. What do you think about it? What is the agreement called?

2. Chirag has purchased 10,000 shares of WIPRO Ltd. of Rs.100 each and already paid Rs.70 per share. Which term is used for the remaining obligation? Compare diff forms of business using this term. Also explain the relevant clause of Memorandum Of Association mentioning this situation.

Answer 1

But as per their agreement, there are only 4 partners name shown in the list for a business meeting where everyone's ...