Business and Personal Finance Dictionary

# A B C D E F G H I J K L M N O P Q R S T U V W X Y Z 

• ULTRA VIRES
  
  The common law doctrine relating to the effect of corporate acts that exceed the powers or the stated purposes of a corporation. Traditionally, if a corporation acted beyond its stated purposes, the actions were unenforceable against the corporation. However, the legal strength of this doctrine has greatly diminished.
  
  Back