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Ultra Vires Doctrine Under The Nigerian by lukmanibrahim162 is a document available to read on EtoBox.
The ultra vires doctrine, a common law principle adopted in Nigeria, states that any act by a company outside its Memorandum of Association is void, aiming to protect investors and creditors. However, its strict application has caused hardships for innocent third parties and limited corporate growth, leading to statutory reforms in the Companies and Allied Matters Act (CAMA) 2020, which relaxes these restrictions. The new law allows companies to engage in any business unless restricted by their Articles of
- Author
- lukmanibrahim162
- Language
- EN