Correct Answer:
B. Enter into contract, acquire/dispose property, sue & be sued
A legally constituted 'Authority' is typically granted corporate personality, enabling it to function as an independent legal entity. This includes fundamental powers such as the ability to enter into contracts, acquire and dispose of property, and to sue and be sued in its own name. These powers are essential for its operational autonomy and legal standing.
- Only issue fines is a specific enforcement power, not the full scope of an authority's legal capacity.
- Only enforce police rules is a specific regulatory function, not its inherent corporate powers.
- Only oversee price control is another specific regulatory function, not encompassing its general legal personality.