1.In 2016, Kora Nayenga and two business associates formed a corporation called Nayenga Corporation for the purpose of selling computer services. Kora, who owned 50 percent of the corporate shares, served as the corporation's president. In 2018, Kora wished to obtain a personal loan from his bank for $250,000 to buy a second home on Lake Sunapee, but the bank required the note to be cosigned by a third party. Kora cosigned the note in the name of Nayenga Corporation. Later, Kora defaulted on the note, and the bank has now sued the corporation for payment.

A. What is the most likely outcome of the bank's efforts to collect from the corporation?

[Hint: agency; liability of a corporation to third parties for acts of an officer as its agent]