A, B, C, D, E, F, G, H and I are directors of Strong Cement Corporation whose articles of incorporation provide for 9 directors. In the meeting of March 2003, directors A, B, C, D and E were present to approve a contract for the purchase of cement bags from E who deals in the said product. The contract was deliberated upon exhaustively by the said directors in the meeting including E. When the voting took place however, only A, B, C and D who found the contract fair and reasonable under the circumstances, voted for its approval. The contract between the corporation and E is:

Group of answer choices

Voidable at the option of the corporation.

Valid and enforceable.

Void because a corporation must not enter into a contract with any of its directors since a director occupies a position of trust.

Unenforceable against the corporation.