Officers who,in good faith,enter into an ultra vires transaction are not held personally liable.

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Ultra vires transactions refer to actions taken by officers of a company that exceed their authority or fall outside the scope of the company's objectives. If officers act in good faith when engaging in such transactions, they will generally be protected from personal liability. This is because the law recognizes that officers may make honest mistakes or act in the best interests of the company when taking actions that are technically outside their authority.

Officers Who,in Good Faith,enter into an Ultra Vires Transaction Are