Question 1: The principle of rule by majority has been made applicable to the management of companies' affairs. All proposed resolutions are generally passed by the majority votes of the members. Once the majority is passed by the requisite members, it becomes binding on all the members of the company. Required: Based on the statement above, discuss the importance and limitations of applying the principle of rule by majority. Express your opinion and justification on whether the company should continue to use the majority rule in managing the company's affairs.