This section of the book is from the "Canadian Banking Practice" book, by John T. P. Knight.
Question 223.— Where a party trades under the name of a company, as for instance, "The Canadian Iron Company," is it sufficient for him to use the name of the company in his signature, without the addition of his own name?
Answer.—Legally such a signature is sufficient, but practically it is open to many objections.
Joint Stock Companies—Powers of Officers.
Question 224—The shareholders of a company incorporated in Ontario pass a by-law authorizing the directors to appoint a president and other officers, and declaring that the president is to be the manager of the company, with power " to exercise all such powers of the company as are not required by law to be exercised by the directors or by the company in general meeting." Would this by-law empower the president to sign cheques, acceptances, etc., on behalf of the company?
Answer.—We think that the by-law is quite sufficient for the purpose named.