signature  and  obligation  ou  behalf  of  another;  '  while  other
well-considered  cases  hold  a  contrary  view.^

It  is  thought,  however,  that  the  word  "  as  "  prefixed  to  the
description  would  probably  indicate  the  agency.^

Sec.  32t.  Same — Power  to  lease  real  estate. — It  is  held  in
the  case  of  Metropolitan  Concert  Co.  v.  Abbey,*  that  the
power  under  the  statute  to  sell  and  convey  real  estate  does
not  to  include  the  power  to  lease  and  that  therefore  the
making  of  a  lease  by  a  corporation  organized  undei'  the
Business  Act  of  all  of  its  property,  unless  required  by
reason  of  imperative  necessity,  is  ultra  vires,  and  the  lease
is  void,  and  that  in  such  a  case  it  rests  with  the  corporation
to  show  the  imperative  necessity.
However,  it  is  thought  that  the  holding  of  the  Court  of
Appeals  in  the  case  of  Denike  v.  Rosendale  Lime  and  Cement
Co.,^  justifies  the  opinion  that  a  business  corporation  may
temporarily  lease  its  property  to  a  person  or  corporation  who
will  continue  and  carry  on  its  business.  And  the  Supreme
Court  held  in  the  case  of  Smith  v.  Bennett,®  that  under
the  New  York  statute,^  providing  that  the  Sea  Cliff  Grove
&  Metropolitan  Camp-Ground  Association  may  erect  and
maintain  docks  along  the  shore  of  its  lands,  and  have  the
exclusive  control  of  them,  the  association  may  lease  the
exclusive  control  of  such  docks  to  another.
