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Co-Operative Societies Act 2008 22. Pre-registration contracts 1. Except as provided in this section, a person who enters into a written contract in the name of or on behalf of a society before it comes into existence is personally bound by the contract and is entitled to the benefits of the contract. 2. Within a reasonable time after a society comes into existence, it may, by any action or conduct signifying its intention to be bound thereof, adopt a written contract made in its name or on its behalf, before it came into existence. 3. Where a society adopts a contract pursuant to subsection (2)— a. the society is bound by the contract and is entitled to the benefits thereof as if the society had been in existence at the date of the contract and had been a party to it; and b. a person who purported to act in the name of the society or on its behalf ceases except as provided in subsection (4) to be bound by or entitled to the benefits of the contract. 1. 2. 3. 4. Except as provided in subsection (5), whether or not a written contract made before the coming into existence of a society is adopted by the society, a party to the contract may apply to a court for an order fixing the obligations under the contract as joint or joint and several, or apportioning liability between or among the society and a person who purported to act in the name of the society or on its behalf; and the court may upon the application make any order it thinks fit. 5. Where a written contract expressly provides that a person who purported to act in the name or on behalf of the society before it came into existence is not bound by the contract or entitled to the benefits of the contract, the person is deemed not to be bound by the contract nor to be entitled to the benefits of the contract.    |
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