Seldon Owned Several Apartment Buildings

Essay

Seldon owned several apartment buildings.Sheila is the president of Ivest-co Inc, a corporation incorporated under the Canada Business Corporations Act.Sheila entered into a lease with Seldon to rent some office space in one of Seldon's buildings on behalf of Invest-co.Seldon was confident that the lease would be enforceable against Ivest-co Inc because the president of the corporation had signed the lease on behalf of the corporation.Unknown to Seldon, the by-laws of the corporation said that the corporation could only enter into leases if two directors of the corporation signed them.Discuss whether the lease is enforceable.