Which of the following states that a corporation cannot undertake any transaction unless its charter permits it?
A)the ultra vires doctrine
B)the estoppel doctrine
C)the exculpatory clause
D)the indemnification clause

Question

Quizplus · Accepted Answer

The ultra vires doctrine states that a corporation cannot undertake any transaction unless its charter permits it. This doctrine protects shareholders and creditors by preventing the corporation from engaging in activities beyond the scope of its authorized powers.

Which of the Following States That a Corporation Cannot Undertake