Shareholders Cannot Seek an Injunction Against an Ultra Vires Act

question 89

True/False

Shareholders cannot seek an injunction against an ultra vires act by a corporation.

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Definitions:

Death of a Partner

In the context of business, refers to the event when one member of a partnership passes away, potentially impacting the continuity and operations of the business.

Partnership Agreement

A contract between partners in a business that outlines the terms and conditions of the partnership.

Partnership Dissolution

The process of terminating the legal existence of a partnership entity, which involves winding up its affairs and distributing its assets.

Act of Court

A formal decision, order, or judgment handed down by a court of law.