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Ultra vires: Difference between revisions
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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]]. | {{g}}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 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]]. | 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]]. | ||
===Sovereign immunity and ultra vires: not the same=== | |||
{{Sovereign immunity and ultra vires}} | |||
===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 [[Hammersmith and Fulham council]] | [[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]] | ||