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.
The FM announced the launch of a new sub-scheme of the PM Matsya Sampada Yojana with a targeted investment of …………………………….to furt...
Fertiliser material that has maximum sulphur content is:
Which insect is a major pest of sugarcane, known for causing "dead heart" in young plants?
Which of the following can be most suitably be filled in blank a?
How many cross breed are taken with fish culture in one hectare Land?
Under Section (43)2 of the FSS Act 2006 the FSSAI has notified how many laboratories in September 2017:
Primitive and least controlled surface irrigation method is
Which soil horizon in Oxisols is characterized by a high accumulation of iron and aluminum oxides?
Commission for Agricultural Costs and Prices (CACP) was established in the year
Teosinte is closely associated with which of the following crops?