THE CORPORATIONS LAW

CHAPTER 2B - BASIC FEATURES OF A COMPANY

PART 2B.1 - COMPANY POWERS AND HOW THEY ARE EXERCISED

SECTION 126   AGENT EXERCISING A COMPANY'S POWER TO MAKE CONTRACTS  

126(1)  (Acting on company's behalf)  

A company's power to make, vary, ratify or discharge a contract may be exercised by an individual acting with the company's express or implied authority and on behalf of the company. The power may be exercised without using a common seal.

126(2)  (Non-application)  

This section does not affect the operation of a law that requires a particular procedure to be complied with in relation to the contract.