Simon and Daphne are the two directors of Bridgerton Ltd, a medium-size agriculture and farming company. Under the company's constitution, 'major contracts worth more than 100,000 must be approved by the full board.' Although Simon and Daphne are equal in their positions and authority within the company, Simon is older and has been making many of the major decisions, which Daphne agrees to.

Simon wants to hire some farm silos for grain storage because he believes that he can manipulate the market prices by storing and dumping in order to make a large profit. This is unethical and something which Daphne would never agree to.

Simon is accompanied by his secretary, Pen, to a meeting with Silo Store. Simon agrees to lease 50 silos for 60 days. The cost is 200,000. Anthony, the Managing Director of Silo Store, asks Simon whether Daphne would agree to the contract. Simon says, "Well, Anthony, you know Daphne. She is not going to dispute my business judgement." Pen nods her agreement. The contract is signed.

Shortly thereafter, Bridgerton Ltd experiences cash-flow problems and it misses a payment of 50,000 to Silo Store.

Advise Bridgerton Ltd on the enforceability of the contract with Silo Store.

-use uk company law legislation

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