{"id":35288,"date":"2024-04-15T09:43:13","date_gmt":"2024-04-15T09:43:13","guid":{"rendered":"https:\/\/exam.pscnotes.com\/mcq\/?p=35288"},"modified":"2024-04-15T09:43:13","modified_gmt":"2024-04-15T09:43:13","slug":"the-doctrine-of-ultra-vires-covers-acts-which-are","status":"publish","type":"post","link":"https:\/\/exam.pscnotes.com\/mcq\/the-doctrine-of-ultra-vires-covers-acts-which-are\/","title":{"rendered":"The doctrine of &#8216;Ultra Vires&#8217; covers acts which are:"},"content":{"rendered":"<p>[amp_mcq option1=&#8221;Beyond the powers of the directors only&#8221; option2=&#8221;Beyond the powers of the secretory only&#8221; option3=&#8221;Beyond the objects stated in the memorandum of association only&#8221; option4=&#8221;Beyond the powers of the chief executive of the company only&#8221; correct=&#8221;option3&#8243;]<!--more--><\/p>\n<p>The correct answer is: C. Beyond the objects stated in the memorandum of association only.<\/p>\n<p>The doctrine of ultra vires states that a company can only do those things that are expressly or impliedly authorized by its memorandum of association. Any act that is beyond the objects stated in the memorandum is ultra vires and is therefore void.<\/p>\n<p>The memorandum of association is a document that sets out the name, objects, and capital of a company. It is a public document that is filed with the Registrar of Companies. The memorandum of association is the constitution of the company and all of its activities must be conducted in accordance with it.<\/p>\n<p>If a company acts ultra vires, it may be sued by its members or by any other person who has been harmed by the ultra vires act. The company may also be ordered to pay damages to the person who has been harmed.<\/p>\n<p>The doctrine of ultra vires is a complex area of law and it is important to seek legal advice if you are unsure whether a particular act is ultra vires.<\/p>\n<p>Here is a brief explanation of each option:<\/p>\n<ul>\n<li>Option A: Beyond the powers of the directors only. This is incorrect because the doctrine of ultra vires applies to all acts of the company, not just those of the directors.<\/li>\n<li>Option B: Beyond the powers of the secretary only. This is incorrect because the doctrine of ultra vires applies to all acts of the company, not just those of the secretary.<\/li>\n<li>Option C: Beyond the objects stated in the memorandum of association only. This is the correct answer because the doctrine of ultra vires states that a company can only do those things that are expressly or impliedly authorized by its memorandum of association. Any act that is beyond the objects stated in the memorandum is ultra vires and is therefore void.<\/li>\n<li>Option D: Beyond the powers of the chief executive of the company only. This is incorrect because the doctrine of ultra vires applies to all acts of the company, not just those of the chief executive.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>[amp_mcq option1=&#8221;Beyond the powers of the directors only&#8221; option2=&#8221;Beyond the powers of the secretory only&#8221; option3=&#8221;Beyond the objects stated in the memorandum of association only&#8221; option4=&#8221;Beyond the powers of the chief executive of the company only&#8221; correct=&#8221;option3&#8243;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[704],"tags":[],"class_list":["post-35288","post","type-post","status-publish","format-standard","hentry","category-legal-aspects-of-business","no-featured-image-padding"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.2 (Yoast SEO v23.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>The doctrine of &#039;Ultra Vires&#039; 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