Section 182 — Companies Act 1993: Pre-incorporation contracts may be ratified

182 Pre-incorporation contracts may be ratified (1) In this section and in sections 183 to 185 of this Act, the term pre-incorporation contract means— (a) A contract purporting to be made by a company before its incorporation; or (b) A contract made by a person on behalf of a company before and in contemplation of its incorporation. (2) Notwithstanding any enactment or rule of law, a pre-incorporation contract may be ratified within such period as may be specified in the contract, or if no period is specified, then within a reasonable time after the incorporation of the company in the name of which, or on behalf of which, it has been made. (3) A contract that is ratified is as valid and enforceable as if the company had been a party to the contract when it was made. (4) 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 180 of this Act. (5) Notwithstanding the Contracts (Privity) Act 1982 , if a pre-incorporation contract has not been ratified by a company, or validated by the Court under section 184 of this Act, the company may not enforce it or take the benefit of it. Compare: 1955 No 63 s 42A(1)-(3); 1983 No 53 s 15