Ultra vires: Difference between revisions
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===Don't mention=== | ===Don't mention=== | ||
[[derivatives]] and [http://www.nytimes.com/1994/12/08/business/orange-county-s-bankruptcy-the-temptations-the-search-for-municipal-cowboys.html Orange County] or [ | [[derivatives]] and [http://www.nytimes.com/1994/12/08/business/orange-county-s-bankruptcy-the-temptations-the-search-for-municipal-cowboys.html Orange County] or [[Hammersmith and Fulham Council]] | ||
{{sa}} | |||
*{{casenote|Hazell|Hammersmith and Fulham LBC}} | |||
*[[Due diligence]] | *[[Due diligence]] | ||
*[[indemnity]] | *[[indemnity]] | ||
*{{isdama}} | *{{isdama}} | ||
*{{tag|Latin}} | *{{tag|Latin}} | ||
Revision as of 09:08, 24 June 2019
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 Council