Doctrine Of Ultra Vires Meaning In Gujarati

Ultra vires is a latin phrase used in law to describe an act which requires legal authority but is done without it. Since the application of the european community law in england the doctrine of ultra vires stand restricted to a certain extent in india the original of the doctrine dates back to 1866 when the bombay high court applied it to a joint stock. The ultra vires doctrine is a kind of insurance policy that reassures a company s shareholders and creditors that the company will not use their assets or funds for any purposes other than those that are afforded to it and specified within the ultra vires doctrine.

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Doctrine Of Ultra Vires

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Doctrine Of Ultra Vires

Meaning of doctrine of ultra vires the doctrine of ultra vires applies to the memorandum of association of a company.

Doctrine of ultra vires meaning in gujarati. Types of ultra vires acts. The memorandum of association contains the permitted range of activities in its objects clause and a company cannot practice any other activity which is not defined under the scope of objectives mentioned in the memorandum. 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. Legal issues relating to ultra vires can arise in a variety of contexts.

Indian legal system civil laws company law the doctrine of ultra vires anything which is beyond the authority or power is called ultra vires. Companies and other legal persons sometimes have limited legal capacity to act and attempts to engage in activities beyond their lega. Its opposite an act done under proper authority is intra vires. Acts that are intra vires may equivalently be termed valid and those that are ultra vires termed invalid.

The doctrine of ultra vires is a fundamental rule of company law. There are three types of ultra vires acts which outlined below. Ultra vires the memorandum by the company acts performed by the company that are beyond the powers granted to it in the memorandum.