The Doctrine of Ultra Vires, as Applied to Corporations, Has

question 13

Multiple Choice

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

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

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Definitions:

Overhead Applied

The portion of overhead costs assigned to the production of goods or services.

Raw Materials Issued

The allocation or distribution of raw materials for use in the production process.

Labor Time Tickets

Paper or electronic forms used to track the amount of time a worker spends on a particular job or project, utilized for cost accounting and payroll purposes.

Factory Overhead

The total of all indirect costs associated with manufacturing, including utilities, rent for the manufacturing facilities, and maintenance.