2435819
Description
Mind Map by Fiza Ab Karim, updated more than 1 year ago
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Created by Fiza Ab Karim
almost 10 years ago
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(a) Explain the
common law doctrine
of ultra vires
- Object clause
- the most important
of the memorandum
- sets out those acts which the
company has capacity to
undertake.
- Anything outside the objects and
powers of a company is ultra vires
- the most important
of the memorandum
- ULTRA VIRES
- acts which are not specified in its
objects clause in MOA of the co. or
not incidential to their attainment
- COMMON LAW
POSITION
- the transaction is void
- & did not bind to co.
- Ashbury Railway Carriage
& Iron Co vs Riche
- Re Jon Beauforte (London) Ltd
- Re introduction Ltd
- the transaction is void
- acts which are not specified in its
objects clause in MOA of the co. or
not incidential to their attainment
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