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Preservation of continuing contracts.
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54.—Every bond, guarantee, or other security of a continuing nature made or given by the body corporate to any person, or by any person to the body corporate, and in force immediately before the appointed day, and every contract or agreement in writing made between the body corporate and another person and not fully executed and completed before the appointed day, shall, notwithstanding the dissolution of the body corporate and the existing committee continue in force on and after the appointed day, but shall be construed and have effect as if the name of the hospital board were substituted therein for the name of the body corporate, and such security, contract, or agreement shall be enforceable by or against the hospital board accordingly.
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