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An "Ultra Vires" Act Will Generally Cause Dissolution of the Corporation

question 35

True/False

An "ultra vires" act will generally cause dissolution of the corporation.


Definitions:

Anarchy

A state of confusion and social disorder where, in lieu of a ruling government, everyone is allowed to or is able to do whatever he or she wants.

Theocracy

Rule by (i.e., leadership of the society accorded to) the most powerful religious people. (Literally, “rule by God.”)

Religious Figure

An individual who is recognized within a religion for their sanctity, leadership, or spiritual insight.

Philosophy

Philosophy is the study of fundamental questions about existence, knowledge, values, reason, mind, and language.

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