Doctrine Of Ultra Vires In Company Law Notes

It states that the objects of a company as specified in its memorandum of association can be departed from only to the extent permitted by the act. The motive behind the doctrine of ultra vires is to protect the investors and creditors of the company. Neither the company can sue nor it can be sued for such acts ashbury railway carriage and iron company v.

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Doctrine Of Ultra Vires Company Law Common Law Private Law

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The doctrine of ultra vires is a fundamental rule of company law.

Doctrine of ultra vires in company law notes. Section 20 1 provides no action prosecuted as an act of shall be invalid by reason only the fact that the company does not have the ability or authority to act. Effects of ultra vires transactions doctrine of ultra vires. Ultra vires doctrine in the companies act 1965. Pdf doctrine of ultra vires in company law agrey.

Section associated with the doctrine of ultra vires of the companies act is section 20 1 20 2 a b c and 20 3. This doctrine prohibits the company to use the money of the investors for the purpose other than that are stated in object clause of the company enumerated in memorandum of association. The ultra vires acts are null and void ab initio. These acts are not binding on the company.

In the case of ashbury railway carriage and iron company.