0. An act is said to be ultra vires a company
when it is beyond the powers of:
(A) The Company
(B) The Directors
(C) Directors but not the Company
(D) Conferred on the Company by the
Articles
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I think your answer is d
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It is said to be ultra vires when it is beyond the powers of Conferred on the Company by the Articles.
- Ultra vires is a term used in corporate law.
- It is a term used to describe corporate operations that go beyond the boundaries of the authority granted by specific clauses.
- These clauses are the corporation's objects clause, articles of incorporation, or a clause in its bylaws.
- It also refers to other laws approving its formation, or similar foundational documents, thus it is conferred on the company by the articles.
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