Question
Which of the following best represents the meaning of
term ‘ultra vires’?Solution
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.
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Statement:
Parents are ready to p...
Read the given statements and conclusions carefully. Decide which of the given conclusions is true based the given statements.
Statement: Dhoni i...
Three statements are given followed by three conclusions I, II, and III. You have to consider these statements to be true, even if they seem at variance...
Read the given statements and conclusions carefully. Assuming that the information given in the statements is true, even if it appears to be at varianc...
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Some Dollars are Rupees
All Rupees are Euros
Only Pesos are Rubles
No Ruble is a Euro
Concl...
Statements:
Only English are History.
Only a few English are Science.
Some Science are not Hindi.
Conclusions:
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Conclusions: I. W ≤ Z II. X > Z
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Statements:
I. Some animals are elephants.
II. Some elephants are tigers.
Conclusions:
I. Some animals are tigers.