"ties, and if the vice-chairman is unable to act, the board shall appoint a Director to do so. (b) The chairman or such vice-chairman or Director shall: (1) preside over all meetings of the Directors: (2) subject to the advice of the Directors, direct the affairs of the Copra Fund; (3) call the Directors together whenever necessary; (4) sign, as chairman, all contracts, notes, and other instruments" . . . . .