Asked by Hardi Patel on May 10, 2024
Verified
Generally,a nonprofit corporation cannot:
A) use ultra vires as a defense to a contract.
B) sue or be sued.
C) purchase,hold,and sell real property.
D) lend money.
Nonprofit Corporation
An organization formed for purposes other than generating a profit, where none of its income is distributed to its directors or officers.
Ultra Vires
Acts or decisions made by an entity that are beyond the powers conferred by its constitution, charter, or laws.
Lend Money
The act of giving money to another party with the expectation that it will be paid back, usually with interest, over time.
- Embark on comprehending the strategies and legal regulations in board meetings and the directorial tasks under various corporate governance approaches.
Verified Answer
Learning Objectives
- Embark on comprehending the strategies and legal regulations in board meetings and the directorial tasks under various corporate governance approaches.
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