s86 Contracts and Execution of Documents

86 Contracts and execution of documents

(1) A company may, by affixing its common seal thereto, make or execute any written contract, deed, instrument or other document.
(2) A company need not have a common seal, however, and the following subsections apply whether it does or not.
(3) An oral contract may be made, and a written contract, deed, instrument or other document may be made or executed on behalf of a company by any person acting under its authority, express or implied.
(4) A written contract, deed, instrument or other document made or executed by a company which makes it clear on its face that it is intended by the person or persons making it to be a deed has effect, upon delivery, as a deed; and it shall be presumed, unless a contrary intention is proved, to be delivered upon it being so executed.
(5) This section applies to contracts, deeds, instruments and other documents made or executed in the Isle of Man or elsewhere.