Maseru (Pty) Ltd is a private company with an annual turnover of about R80 million. Its articles are in the form of Table A. It has three directors, who are also its only shareholders. The day-to-day running of the business is left to John, one of the directors. John keeps the board of directors informed on a regular basis of whatever transactions he makes. The other directors are happy with this arrangement and have never overturned any of the transactions that John made. John, to the knowledge of his fellow directors, refers to himself as the managing director and the chief executive of Maseru (Pty) Ltd, although he has never been officially appointed as such.In February 2009, John entered into a contract on Maseru (Pty) Ltd’s behalf with Sandeep to refurbish the offices of Maseru (Pty) Ltd at a cost of R1 million. Sandeep did so and presented his invoice for payment. However, when John presented the bill to the board of directors for approval, they refused to authorise payment claiming that John did not have the authority to enter into the contract with Sandeep.Required:Advise whether Maseru (Pty) Ltd is liable to pay Sandeep. (10 marks)