s 51
In forceContractual formalities
Part 3Legal capacity and powers
Division 4Authentication and execution of documents and confirmation of contracts
51 Contractual formalities
(1)
So far as concerns the formalities of making, varying or discharging a contract, a person acting under the express or implied authority of a co‑operative may make, vary or discharge a contract in the name of, or on behalf of, the co‑operative as if that contract were made, varied or discharged by an individual.
(2)
The making, varying or discharging of a contract under subsection (1) is effectual in law and binds the co‑operative and other parties to the contract.
(3)
This section does not prevent a co‑operative from making, varying or discharging a contract under its seal.
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