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Ultra Vires Rule
A legal doctrine that acts performed beyond the scope of a corporation's or entity's powers are invalid.
Business Judgment Rule
A legal principle that protects the decisions made by a corporation's board of directors from being challenged in court, provided they were made in good faith and with reasonable care.
Oppression
The exercise of authority or power in a burdensome, cruel, or unjust manner.
Novation
is the process of substituting a new obligation or contract for an old one, with consent from all parties involved.
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