Section 94(1) in The Punjab Town Improvement Trust Rules, 1939
(1)The Chairman may, on behalf of the Trust enter into any contract or agreement, whereof the value or amount shall not exceed one thousand rupees, in such manner and form as, according to the law for the time being in force, would bind if such contract or agreement were on his own behalf, and every such contract or agreement shall be reported to the Trust at the next ordinary meeting thereof.
