The Memorandum of Incorporation of Generators Unlimited (Pty) Ltd provides that only the board of directors, or any director authorised by the board, has the power to conclude contracts on behalf of the company. It also states that any transaction that exceeds R10 million must first be authorised by the company's shareholders at a general meeting by way of an ordinary resolution. One of the directors, Nthabiseng, is authorised by the board of directors to conclude contracts on behalf of the company. Nthabiseng enters into a contract with Matthews for the purchase of power distribution transformers to the value of R15 million, without first obtaining the authorisation for the purchase by the company's shareholders at a general meeting. Matthews is aware of the provision in the Memorandum of Incorporation requiring shareholder approval because he has dealt with the company on previous occasions. However, he does not know that the purchase in fact, has not been authorised by an ordinary resolution of the company's shareholders. With reference to appropriate authority, discuss whether Generators Unlimited (Pty) Ltd is bound by the contract concluded by Nthabiseng and Matthews