A. Critically evaluate TWO (2) remedies available to a debenture holder where a company has defaulted on the debt covered by the debenture. (12 marks) B. Describe any TWO (2) classes of shares that may be held in a limited liability company. (10 marks) C. Describe TWO (2) differences between a fixed and a floating charge as the term is used in company law. (8 marks) (Total 30 marks) Question 2 A. Define partnership deed. (5 marks) B. Explain THREE (3) grounds for dissolution of a partnership. (15 marks) C. Discuss FOUR (4) differences between a Sole Proprietorship and a Partnership. (10 marks) (Total 30 marks) Question 3 Jackie and Simon run the Fabulous Hair Day Hairdressing Salon, which is prospering. They would like to expand their premises and staff and hope ultimately to open other salons in different locations. They are debating whether to continue to trade as a partnership or set up a limited company. A. Advise Jackie and Simon of the differences between a partnership and a limited company. (20 marks)