Compare a partnership and a public limited company as business unit under the following headings;

(a) formation
(b) ownership
(c) raising of capital
(d) liability
(e) transfer of shares

Write short notes on the following types of retail outlets:
(a) supermarket
(b) mobile shops
(c) department stores
(d) chain stores
(e) hawking.
 

Explain the following insurance terms:

(a) proximate cause
(b) contribution
(c) utmost good faith
(d) re-insurance
(e) contract of non-indemnity (compensation).