The Doctrine of Ultra Vires,as Applied to Corporations,has Now Been

question 18

Multiple Choice

The doctrine of ultra vires,as applied to corporations,has now been abolished throughout Canada.This means that Canadian corporations

• A)do not have the capacity and all the rights,powers,and privileges of a natural person.
• B)can only act through the authority vested in their agents.
• C)cannot be held to contracts entered into that are outside of their charter.
• D)cannot act beyond their constitutional powers.
• E)have broadened powers and capacity to contract.

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Definitions:

Circular Flow

A model in economics that describes the movement of resources, goods and services, and money among different sectors in an economy.

Leakages-Injections Approach

An economic understanding and analysis of how savings, taxes, and imports (leakages) offset government spending, investments, and exports (injections) in the circular flow of income.

Value Added

The increase in worth of a product or service as a result of a particular process, often characterized by the difference between the price of the finished product and the cost of the inputs involved in making it.

Raw Materials

Basic materials extracted from natural resources or produced through agriculture, which are used in the production of goods and services.