Sri Lanka Consolidated Acts

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National Institute Of Business Management Law (No. 23 of 1976) - Sect 28

Contracts.

28.
(1) Contracts on behalf of the Institute may be made as follows:-
(a) a contract which If made between private persons would be by law required to be in writing, may be made on behalf of the Institute in writing under the common seal of the Institute;
(b) a contract which if made between private persons would be by law required to be in writing, signed by the parties to be charged therewith, may be made on behalf of the Institute in writing signed by any person or persons duly authorized thereto by the Board;
(c) a contract which If made between private persons would by law be valid although made by pared only and not reduced into writing, may be made on parol on behalf of the Institute by any person or persons duly authorized thereto by the Board.
(2) A contract made according to this section shall be effectual in law and shall bind the Institute and all persons thereto and their legal representatives.

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