Ralph Is the President of JKL Corporation

Ralph is the president of JKL Corporation.Ralph knows that Shark Co.is looking to acquire a corporation much like JKL.Therefore,Ralph enters into negotiations with Shark,and finally signs a contract with Shark for the sale of nearly all the assets of JKL to Shark.Ralph takes the contract back to the board of directors,which passes a resolution accepting the sale of the assets to Shark.This is an example of the president's:

A) express authority
B) implied authority
C) action being ratified by the corporation
D) action being without authority and thus not binding on the corporation