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Ultra vires is a Latin term made up of two words “ultra” which means beyond and “vires” meaning power or authority. So we can say that anything which is beyond the authority or power is called ultra-vires. Ultra vires contract is the void ab initio which implies that it cannot be provided with a legal status even by ratification or estoppel. The Doctrine of Ultra Vires is introduced to safeguard the creditors and investors of the company. The doctrine of Ultra vires prevents the company from using the money of the investors other than those mentioned in the object clause of the memorandum. Hence, both the investors and company must be assured that their investment will not be used for the objects or activities which they did not have specified at the time of investing money in the company.
During a financial emergency, there may be reduction in salaries and allowances of-
Section 25 of the Code of Civil Procedure. 1908 deals with________.
Pending proceedings in a representative suit, the dispute is settled between plaintiff and defendants. They jointly filed an application to record settl...
The subject matter of theft as per IPC can be _______________
According to the provisions of IPC what is the liability of A, a police officer, who abets the commission of robbery?
To facilitate the conduct of arbitral proceedings, who can arrange for administrative assistance under the Arbitration and Conciliation Act?
What is the definition of "digital personal data" as per the Digital Personal Data Protection Act, 2023?
What happens to laws in force before the commencement of the Constitution of India if they are inconsistent with the provisions of the Constitution?
In Section 2(10) of the Bharatiya Nyaya Sanhita, 2023, the definition of gender now encompasses ________________.
A owes B Rs 1000/- but the debt is barred by the Limitation Act. A sign a written promise to pay B Rs 500 on account of debt: