BLAW20001 : Corporate Law Notes – Transacting by Companies
31 Jul 2015
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If yes, the contract is enforceable: express actual authority (eaa, directors: 198a: directors have contracting power, delegation: this may be delegated down (which gives eaa) *if there is an express restriction, this limits implied actual authority there is no authority (ie. can"t make contract for more than m) Common law assistance: the outsider may be able to prove that the agent had enough: implied actual authority; or, apparent authority: if requirements for apparent authority exist, then even if a company denies being bound by a contract for reasons they did not authorise it, the company is still bound due to the existence of apparent authority. holding out: a representation must be made to the outside contracting party that the agent has authority to enter on behalf of the company into a contract of the type in question (freeman and lockyer) by someone with actual authority: apparent authority is not enough (crabtree .
