Discuss whether this contract is binding on the corporation.

Complete the following problems from your textbook, located at the end of each respective chapter. Save your work as a WORD document, then SUBMIT it to the SUBMISSION LINK for this assignment.nnYou do not need to write out the questions. However, you must write out your responses in complete sentences. Please be very thorough and detailed. This is your opportunity to “show-off” what you learned this week.nn nnChapter 18nn nn18-2nnConflicts of interest. Oxy Corp. is a negotiating with Wick Construction Co. for renovation of Oxy’s corporate headquarters. Wick, the owner of Wick Construction Co. is also one of the five members of Oxy’s board of directors. The contract terms are standard for this type of contract, Wick has previously informed two other directors of his interest in the construction company. Oxy’s board approves the contract by three-to-two votes, with Wick voting the majority. Discuss whether this contract is binding on the corporation. (see Directors and Officers)nn