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COMPANIES CLAUSES CONSOLIDATION ACT 1845 - SECT 97

Contracts by committees or directors.

97. The power which may be granted to any such committee to make contracts, as
well as the power of the directors to make contracts, on behalf of
the company, may lawfully be exercised as follows; (that is to say,)

With respect to any contract which, if made between private persons, would be
by law required to be in writing, and under seal, such committee or
the directors may make such contract on behalf of the company in writing, and
under the common seal of the company, and in the same manner may vary or
discharge the same:

With respect to any contract which, if made between private persons, would be
by law required to be in writing, and signed by the parties to be charged
therewith, then such committee or the directors may make such contract on
behalf of the company in writing, signed by such committee or any two of them,
or any two of the directors, and in the same manner may vary or discharge the
same:

With respect to any contract which, if made between private persons, would by
law be valid although made by parol only, and not reduced into writing, such
committee or the directors may make such contract on behalf of the company by
parol only, without writing, and in the same manner may vary or discharge the
same:

Proceedings to be entered in books, and to be evidence.

© 1845 Crown Copyright

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