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The New Lawyer Q&A

May 20, 2009

SAMPLE QUESTION & ANSWER 6

1. Under What Theory or Theories Might SI Attempt to Avoid its Contractual Obligation to GP?

Ultra Vires Act

SI might attempt to avoid its contractual obligation to GP by asserting that its board of directors' agreement to the contract was an "ultra vires act." Ultra vires (meaning "beyond the powers") refers to acts of a corporation that are beyond the scope of p...

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