Ultra vires: Difference between revisions
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A | A [[Latinism]] meaning ''beyond its powers'', which crops up usually in the context of a [[corporation]] or governmental authority exceeding the powers and objects set out in its [[memorandum and articles of association]] or charter. Also of some relevance also to a [[Trust]]. | ||
In that most valuable and intellectually rewarding pastime of checking a combatant's {{tag|capacity and authority}}, ultra vires is the principle concern should it not have the capacity to transact in your chose kind of {{tag|derivative}}. These days it is a rather old fashioned notion as far as a corporation goes | In that most valuable and intellectually rewarding pastime of checking a combatant's {{tag|capacity and authority}}, ultra vires is the principle concern should it not have the capacity to transact in your chose kind of {{tag|derivative}}. These days it is a rather old fashioned notion as far as a corporation goes — in most sensible jurisdicitons it has been partly or entirely ruled out by legislation, but it is liable to induce butterflies if one is dealing with a [[local authority]]. | ||
===Don't mention=== | ===Don't mention=== | ||
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*[[indemnity]] | *[[indemnity]] | ||
*{{isdama}} | *{{isdama}} | ||
*{{tag|Latin}} | |||
Revision as of 08:12, 16 September 2016
A Latinism meaning beyond its powers, which crops up usually in the context of a corporation or governmental authority exceeding the powers and objects set out in its memorandum and articles of association or charter. Also of some relevance also to a Trust.
In that most valuable and intellectually rewarding pastime of checking a combatant's capacity and authority, ultra vires is the principle concern should it not have the capacity to transact in your chose kind of derivative. These days it is a rather old fashioned notion as far as a corporation goes — in most sensible jurisdicitons it has been partly or entirely ruled out by legislation, but it is liable to induce butterflies if one is dealing with a local authority.
Don't mention
derivatives and Orange County or Hammersmith and Fulham.