7Contracts, how made

7 Contracts, how made

7 Contracts, how made

Contracts on behalf of the body corporate may be made as follows, that is to say:

(a) any contract which if made between private persons would be by law required to be in writing and under seal may be made on behalf of the body corporate in writing under the common seal of the body corporate, and such contract may be in the same manner varied or discharged,

(b) any contract which if made between private persons would be by law required to be in writing and signed by the party to be charged therewith may be made on behalf of the body corporate in writing signed by any person acting under the express or implied authority of the body corporate, and such contract may in the same manner be varied or discharged,

(c) any contract which if made between private persons would by law be valid although made by parol only and not reduced into writing may be made by parol on behalf of the body corporate by any person acting under the express or implied authority of the body corporate, and such contract may in the same manner be varied or discharged.

And all contracts made according to the provisions herein contained shall be effectual in law and shall be binding upon the body corporate and its successors and all other parties thereto, their heirs, executors, or administrators as the case may be.