A Province Created a Statute

question 47

Multiple Choice

A province created a statute.A court ruled that the statute was ultra vires.That means that

• A)the statute has full force (ultra means "most" and vires means "strength," as in "virility").
• B)the province acted contrary to the division of powers in that it enacted legislation that it did not have the constitutional jurisdiction to enact.
• C)the statute must violate the Charter.
• D)the statute applies both inside and outside of the province.
• E)the statute must deal with public law rather than private law.

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Definitions:

Coupon Rate

The interest rate stated on a bond at the issuance time, which the issuer promises to pay to the bondholder on the face value of the bond.

Coupon Yield

The per annum rate of interest a bond delivers, depicted as a proportion of its par value.

Yield to Maturity

The complete earnings projected from a bond assuming it is retained up to its expiration date.

Yield to Maturity

The total return anticipated on a bond if it is held until it matures, incorporating all coupon payments and the face value received at maturity.