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What is Understanding Ultra Vires Transactions about?

The Doctrine of Ultra Vires states that a company can only perform activities specified in its Memorandum of Association and the Companies Act; actions beyond this scope are void. Notable cases illustrate that even shareholder ratification cannot validate ultra vires actions, which can lead to personal liability for directors and potential injunctions from members. While ultra vires acts are unenforceable, certain rights, such as property ownership and money recovery, may still be upheld.

Author

gayathrisures2226

Language

EN