CrossContinental Carriers, Inc. is negotiating with Imperial Realty for a major purchase of over 100 acres of nearby land to expand CrossContinental's main services facility. Sam Groton a limited partner in the Imperial Really limited partnership, also is one of fifteen (15) directors on the CrossContinental Board of is true with any limited partner, Sam has no management role in the affairs of the real estate company. A standard real estate purchase contract is Continental's officers and presented to its Board at their regular quarterly meeting for approval Ten (10) of CrossContinental's directors know of Sam's involvement with Imperial Realty. The CrossContinental Board of Directors votes to approve the purchase contract by a vote of 12-3 with Sam voting in the majority.
DISCUSS FULLY whether this contact can become binding when signed by Imperial Realty.