Ultra vires

{
  "id": "MLC-T-LAW-005025",
  "term": "Ultra vires",
  "field": "Law",
  "definition": "An act by a corporation or other entity beyond the powers given by its charter, articles of incorporation or enabling statute. Under the traditional doctrine such an act was void, but most modern corporation statutes, such as Model Business Corporation Act section 3.04, bar outsiders from using the lack of power to avoid a contract. Shareholders, the corporation and the state attorney general can still challenge the act directly, and public bodies remain bound by the limits of their statutory authority.",
  "url": "https://mlchart.com/terminology/law/ultra-vires/"
}