COMPANIES ACT - 1963 (ACT 179)

    Section - 144 - Form of Contracts

    Contracts on behalf of a company may be made, varied or discharged as follows, that is to say,

    (a) any contract which, if made between individuals would be by law required to be in writing under seal, or which could be varied or discharged by writing under seal only, may be made, varied or discharged, as the case may be, in writing under the common seal of the company;

    (b) any contract which, if made between individuals would be by law required to be in writing or to be evidenced in writing by the parties to be charged therewith or which could be varied or discharged only by writing or written evidence signed by the parties to be charged, may be made, evidenced, varied or discharged, as the case may be, in writing signed in the name or on behalf of the company;

    (c) any contract which, if made between individuals would be valid although made by parol only and not reduced to writing or which could be varied or discharged by parol, may be made, varied or discharged, as the case may be, by parol on behalf of the company.