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See model answer βA director of a private limited company enters into a contract on behalf of the company to purchase office equipment from a supplier who is also a director of the company. The director did not declare their interest in the transaction to the board. What is the legal consequence?
A) The contract is automatically void
B) The director has breached their duty to declare an interest in a proposed transaction under s 177 Companies Act 2006
C) The contract is voidable at the option of the supplier
D) The director is personally liable for all company debts