Section 183:

183. Pre-incorporation contracts may be ratified (1) In this section and in sections 184 and 185, “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, a pre-incorporation contract may be ratified within such period as may be specified in the contract, or where 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 181.