What is ‘Ultra Vires Acts’
Any act that lies beyond the authority of a corporation to perform. Ultra Vires acts fall outside the powers that are specifically listed in a corporate charter or state law. They can also be any action that is specifically prohibited by the corporate charter.
Explaining ‘Ultra Vires Acts’
Ultra Vires acts can also be defined as any excessive use of corporate power that has been granted. These acts cannot be legally defended in court. They will, in fact, leave the corporation vulnerable to lawsuits by employees or other parties.
- B. National Courts Ultra vires review of the ECB's policy of quantitative easing: An analysis of the German Constitutional Court's preliminary reference order in the … – kluwerlawonline.com [PDF]
- Protecting small savers: The political economy of economic security – muse.jhu.edu [PDF]
- Don't Act Beyond Your Powers: The Perils and Pitfalls of the German Constitutional Court's – www.cambridge.org [PDF]
- Rise and fall of the ultra vires doctrine in United States, United Kingdom, and Commonwealth Caribbean Corporate Common Law: A triumph of experience over logic – heinonline.org [PDF]
- The European economic constitution and its transformation through the financial crisis – papers.ssrn.com [PDF]
- The economics of the private finance initiative – academic.oup.com [PDF]
- The European economic constitution and its transformation through the financial crisis – onlinelibrary.wiley.com [PDF]
- This time, it is not different: The persistent concerns of financial macroeconomics – books.google.com [PDF]
- Critical Corporate Governance and the Demise of the – journals.sagepub.com [PDF]