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Home > QFINANCE Dictionary > Definition of ultra vires

Definition of

ultra vires

Legal

beyond scope of organization's authority a Latin phrase meaning "beyond the powers," used to refer to an activity that normally falls beyond the scope of the instrument from which an organization's authority is derived, and thus may be challenged by the courts. A corporation's powers are limited by the objectives in its charter. Most objectives tend to be wide-ranging, but, should a corporation's directors act outside of these objectives, any resulting agreement may be unenforceable.

Definitions of ’ultra vires’ and meaning of ’ultra vires’ are from the book publication, QFINANCE – The Ultimate Resource, © 2009 Bloomsbury Information Ltd. Find definitions for ’ultra vires’ and other financial terms with our online QFINANCE Financial Dictionary.

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