QUESTION 3: The MOI of Willy Wonker (Proprietary) Limited provides that before the company may take up credit for R 2,5 million or more, such a decision must be approved bythe board of the company at a board meeting. Willy Wonker (Proprietary) Limited's MOI further provides that shareholders must be provided with a copy of the agenda of every board meeting at least five business days before such a board meeting. The board of Willy Wonker (Proprietary) Limited approve, and the company enters into, an agreement with Charlie Chocolate Bank Limited for a loan in the amount of R 3 million, but without providing the agenda of the board meeting in question to the shareholders. Explain whether this agreement is binding on Willy Wonker (Proprietary) Limited. (Do not discuss common-law principles but restrict your answerto the relevant provisions of the Companies Act 71 of 2008.) 5 MARKS (Not more than half a page)