President.-The earlier cases and some of the modern cases state that the president has, as such, no powers not possessed by any other director except those of presiding at meetings.

—authority of president of corporation in business of acquiring and selling land is subject to resolution of board that sales must be jointly done by president and secretary/treasurer

In the alternative, a corporate officer may have ostensible authority to enter into an agreement on behalf of the corporation if he or she "assumed and exercised the power in the past" with the apparent consent and acquiescence of the corporation

The management of the affairs of a corporation is ordinarily in the hands of its board of directors, and the president has only such power as has been given by the bylaws and by the board of directors, and such other power as may arise from his or her having assumed and exercised the power in the past with the apparent consent and acquiescence of the corporation.

—the president executed a real estate contract on behalf of the corporation without being expressly so authorized by the by-laws or the board of directors.

The traditional position is that the president has only limited authority which extends only to minor, ordinary, routine transactions.

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