Corporate Governance · glossary
A person dealing with the company in good faith may treat the directors' power to bind it as free of any limit in its constitution. It protects outsiders such as a bank, never the directors who broke the rules. That is why a bank still asks for a certified extract. Charter §3.1 · Chapter 2 · Chapter 6
Explained in Chapter 2, Matters Reserved and Delegation, of Corporate Governance.
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