Business, Legal & Accounting Glossary
Latin for “beyond powers.” It refers to conduct by a corporation or its officers that exceeds the powers granted by law.
Traditionally, the purpose of a corporation was closely spelt out in its articles of incorporation. If the corporation acted beyond its described purposes these actions were unenforceable against the corporation or by the corporation. However, most modern statutes allow corporate purposes to be any lawful activity.
To help you cite our definitions in your bibliography, here is the proper citation layout for the three major formatting styles, with all of the relevant information filled in.
Definitions for Ultra Vires are sourced/syndicated and enhanced from:
This glossary post was last updated: 22nd April, 2020 | 6 Views.