Solicitors & Lawyers
Legal Terms
Term: ultra vires
1.
A purported exercise of power that a company does not possess, and therefore invalid [Latin: beyond the power]. The effect of the doctrine of ultra vires has been mitigated by the effect of the Companies Act 1989.
Usage: The exercise of the power to grant a mortgage over company property did not exist, and was therefore ultra vires the company.
Related Words: intra vires; objects; memorandum of association; Companies Acts; company; limited company; public company.
Fraud & Dishonesty – Fraudulent Misrepresentation and Recovery of Damage: Corporate and Investment Fraud
Business Structures – Partnership Assets – Decision Overturned
Companies: Internal Governance – Directors Loans and Duties to UK Companies
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