Section 39(1) in The Maharashtra Non-Trading Corporations Act, 1959
(1)Contracts on behalf of a corporation may be made as follows:–(a)a contract which, if made between private persons, would by law be required to be in writing signed by the parties to be charged therewith, may be made on behalf of the corporation in writing signed by any person acting under its authority, express or implied, and may in the same manner be varied or discharged;(b)a contract which, if made between private persons, would by law be valid although made by parole only and not reduced into writing, may be made by parole on behalf of the corporation by any person acting under its authority, express or implied, and may in the same manner be varied or discharged.
