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.

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Definitions:

Real GDP

The total value of all goods and services produced by a country over a specific time period, adjusted for changes in price or inflation.

Real GDP

Gross Domestic Product adjusted for inflation, measuring the value of all goods and services produced over a specific time period in real terms.

Social Security

Social Security is a government program that provides financial assistance to people with inadequate or no income, including retirees, disabled people, and their families.

National Income

National Income is the total value of all goods and services produced by a country's economy over a specific time period, plus income from abroad, minus income remittances to other countries.