Caroline is a member of Diamond Fitters CC. She has a 40% members’ interest in the close corporation. The remainder of the members’ interests is held in equal shares by Eddy and Frank. There is no association agreement in existence between her and the other members. The main asset of the close corporation is a jewellery shop in Johannesburg. Eddy and Frank want to sell the shop and apply for a mortgage loan for an even bigger jewellery warehouse in Cape Town. Caroline is not at all in favour of this.Required:Advise Caroline on her legal position. (10 marks)
