elyonchee:
No business names cannot sign contracts in their names. The owner can only enter a contract in his or her own name and not the business name, neither can a business name acquire asset in his name.
A business name is an entity, but it is does not have a corporate personality or legal structure. It is only a limited company, that can enter into a contract in it's own name because of the legal structure it has. A company can also collect a loan or acquire assets in it's own name.
Whereas, in the case of a business name, it is the business owner that collects a loan in his or her own name.
Also note: If you want to make changes to your incorporated documents and you are due for annual returns, for instance your company was registered in 2015 or 2014, you have to file for annual returns before you make changes in the change of directors, shareholders, return of allotment, appointment or removal of secretary, change of name, notice of change in registered address and change of nature etc.
Also, if you are trying to enter into a business relationship with another business, you may decide to apply for a status report or historical search.