Section 201 — Method of contracting

(1) A contract or other enforceable
obligation may be entered into by a company as follows:

(a) an obligation which, if entered into by a natural person, will, by law,
be required to be by deed or otherwise in writing, may be entered
into on behalf of the company in writing signed under the name of
the company by a director, attorney or any other person duly
authorised by the board38[…];

(b) an obligation which, if entered into by a natural person, is not, by
law, required to be in writing, may be entered into on behalf of the
company in writing or orally by a person acting under the company’s
express or implied authority.

(2) All contracts made according to sub-section (1) shall be effectual in
law and shall bind the company and its successors and all other parties thereto, their
heirs, or legal representatives as the case may be.