Ultra Vires

“Traditionally, the purpose of a corporation was closely spelled out in its articles of incorporation. If the corporation acted beyond its described purposes these actions were unenforceable against the corporation or by the corporation. However, most modern statutes allow corporate purposes to be any lawful activity. Therefore, the importance of this doctrine has greatly diminished.”

A New York based accounting firm serving clients throughout the United States, dedicated to providing our clients with professional, personalized services and guidance in a wide range of financial and business needs.