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0 tracked cards Business Associations

A supplier asks whether one member of a corporation's board can sign a $2 million contract and bind the corporation solely because she is a director.
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An individual director can bind the corporation whenever the director owns shares. An individual director's authority is identical to a president's apparent authority in all transactions. An individual director ordinarily has no authority to bind the corporation merely by being a director. An individual director binds the corporation to any contract signed on corporate letterhead.

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