Mode of entering into contract
21 Mode of entering into contract
The powers hereby granted to the Commissioner to make contracts may be exercised as follows:
any contract which, if made between private persons would be by law required to be in writing and under seal, the Commissioner may make in writing in the Commissioner's corporate name under the common seal, and in like manner may vary or discharge the same;
any contract which, if made between private persons, would be by law required to be in writing and signed by the parties thereto, the
Commissioner may make in writing in the Commissioner's corporate name signed by the Commissioner and in like manner may vary or discharge the same;
any contract which, if made between private persons, would be by law valid although made by parol only and not reduced into writing, the
Commissioner may make by parol only without writing, and in like manner may vary or discharge the same.
All contracts so made and duly executed by the parties thereto respectively shall be effectual in law and binding on the
Commissioner and all other parties thereto, their successors, assigns, heirs, executors, and administrators (as the case may be).
In case of default in the execution of any such contract, either by the
Commissioner or by any other party thereto, such actions or suits may be instituted, either by or against the Commissioner in the
Commissioner's corporate name or by or against the other parties failing in the execution thereof, and such damages and costs recovered, as might be instituted and recovered had the like contract been made between private persons.
The statute text is free to read above. View subscription options to unlock the case-law research tools for each provision.