Mr. Sanjay is the Karta of JHF business. He has the absolute power of taking business decisions and his decisions are binding on the other members, once he took a wrong decision of buying a machinery which soon got-obsolute and the business suffered the heavy loss.
(i)Identify and explain limitation of JHF highlighted here.
(ii)What are the options available to co-parceners to avoid this situation.
(iii)Enlist any two values communicated by JHF business.