Asked by Trang Nguyen on Jul 15, 2024
Verified
The doctrine of ultra vires is of more significance today than it has been in the past.
Doctrine
A principle or set of principles laid down by an authority as incontrovertibly true.
Ultra Vires
An act or decision made by an entity that is beyond the scope of its authority, often considered invalid or illegal.
- Grasp the concept of ultra vires acts and their significance in corporate operations.
Verified Answer
JM
Jamesia MyrtleJul 21, 2024
Final Answer :
False
Explanation :
The doctrine of ultra vires, which refers to acts performed beyond the powers of a company as defined in its constitution, has become less significant in many jurisdictions due to legislative reforms and changes in corporate governance practices that allow for broader operational flexibility.
Learning Objectives
- Grasp the concept of ultra vires acts and their significance in corporate operations.
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