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The Doctrine of Ultra Vires Has No Place in Modern

question 53

Essay

The doctrine of ultra vires has no place in modern corporate law. The public should be entitled to assume a corporation has all the rights and duties of a natural person, and the doctrine should be abolished. Discuss this statement and any other issues it raises.


Definitions:

Petty Cash

A small amount of cash on hand used for covering minor and incidental office expenses.

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