Star Industries (Private) Limited (‘SIPL’) is a private limited company. SIPL entered into a contract with Galaxy Traders (‘GT’) for the supply of cotton yarn. MrAnwer, the main shareholder and chief executive of SIPL signed the contract for SIPL. GT has supplied the cotton yarn in accordance with the contract but SIPL has not paid the contract price. On GT’s demand for payment, MrAnwer stated that he had never intended for SIPL to pay GT. GT has brought a claim against SIPL and MrAnwer for the payment of the unpaid contract price.Required:In relation to company law, advise MrAnwer whether he is liable for payment of the unpaid contract price. (10 marks)