Northern Territory Consolidated Acts Northern Territory Consolidated Acts53. Contractual formalities
(1) So far as concerns the formalities of making, varying or discharging a contract, a person acting under the express or implied authority of a co-operative may make, vary or discharge a contract in the name of, or on behalf of, the co-operative as if that contract were made, varied or discharged by a natural person.
(2) The making, varying or discharging of a contract in accordance with subsection (1) is effectual in law and binds the co-operative and other parties to the contract.
(3) This section does not prevent a co-operative from making, varying or discharging a contract under its seal.