The president of a corporation does not have implied authority to execute commercial paper in the name of the corporation.

Name: The president of a corporation does not have implied authority to execute commercial paper in the name of the corporation.
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Question

Quizplus · Accepted Answer

The president of a corporation typically has implied authority to perform acts within the ordinary course of business, but executing commercial paper may require explicit authorization from the board or governing documents.

The President of a Corporation Does Not Have Implied Authority