Prolubiiion
of careviny
on busitiess
with tewer
than seven
or, an the
case ofa
private
company
two mtem-
bers,

Form of
contracts,

Ch. 31. No. 1.] Compante,

Provided that the Court, on being satisfied that) the
failure to comply with the conditions was accidental or
due to inadvertence or to some other sufficient cause, or that
on other grounds it is just and equitable to grant relief,
may, on the application of the company or any other
person interested and on such terms and conditions as
seem to the Court just and expedient, order that the com-
pany be relieved from such consequences as aforesaid.

Reduction of number of members below legal minunum.

30. If at any time the number of members of a company
is reduced, in the case of a private company, below two, or,
in the case of any other company, below seven, and it
carrie, on business for more than six months while the
number is so reduced, every person who is a member of the
company during the time that it so carries on business after
those six months and is cognisant of the fact that it is
carrying on business with fewer than two members, or
severh members, as the case may be, shall be severally
liable for the payment of the whole debts of the company
contracted during that time, and may be severally sued
therefor.

Contracts, etc.

31. (1) Contracts on behalf of a company may be made as
follows.

(a) contract which if made between private
persons would be by law required to be in writing, and
if made according to the law of the Colony to be under
seal, may be made on behalf of the company in writing
under the common seal of the company ;

(0) a contract which if made between private
persons would be by law required to be in writing,
signed by the parties to be charged therewith, may be
made on behalf of the company in writing signed by
any person acting under its authority, express or
unplied,

(c) a contract which if made between private
persons would by law be valid although made by
parol only, and not reduced into writing, may be made