What Did the Court in Powell V

What did the court in Powell v.MVE Holdings,Inc.,recognize regarding the authority of corporate presidents?

A) That because corporate presidents usually control and supervise a corporation's business,unless there is contrary evidence,contracts made by a corporation's president in the ordinary course of
Business are presumed to be made within the president's authority.
B) That corporate presidents have no authority to take action involving the purchase of stock.
C) That corporate presidents must seek approval from the board of directors for any action that could result in litigation.
D) That corporate presidents corporate presidents must seek approval from the board of directors for any "unusual" action.