Which of the following best represents the meaning of term ‘ultra vires’?
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.
What is the applicable Goods and Services Tax (GST) rate for corporate guarantees between parent and subsidiaries, as implemented by the Central Board o...
Who was the founder of Mohammadan Anglo Oriental College?
Where are the famous Ajanta Caves located?
What is the length of the radius of the circle that passes through the points (0, 0), (0, 3) and (2, 0)?
Who is the author of the book “India Divided”?
International Labour Organization was founded on _______.
What is the name of the multiple rocket launcher (MBRL) developed by the Defence Research and Development Organisation (DRDO) for the Indian Army?
Arrange the following events associated with Pandit Madan Mohan Malaviya in chronological order, starting with the earliest :
1. Founding of t...
Which of the following is NOT true regarding corporate social responsibility?
What disease in cattle is caused by the bacterium Mycobacterium bovis?