Investor Presentaiton
PRE-INCORPORATION CONTRACTS -
SECTION 23
A "pre-incorporation contract" means:
(a) a contract purported to have been entered into by a company before its incorporation; or
(b) a contract entered into by a person on behalf of a company before and in contemplation of
its incorporation.
A pre-incorporation contract may be ratified within such period as may be specified in the
contract or if no such period is specified, within a reasonable time after the incorporation of such
company, in the name of which or on behalf of which it has been entered into.
• A pre-incorporation contract that is ratified as aforesaid, shall be as valid and enforceable as if
the company had been a party to the contract at the time it was entered into.
A pre-incorporation contract may be ratified by a company in the same manner as a contract
may be entered into on behalf of a company under section 19.View entire presentation