Answered step by step
Verified Expert Solution
Question
00
1 Approved Answer
39.What is the status of ultra vires contracts entered by a corporation which are not illegal per se but in violation of the formality for
39.What is the status of ultra vires contracts entered by a corporation which are not illegal per se but in violation of the formality for ratification required by the corporation code?
a. voidable
b.rescissible
c.unenforceable
d.null and void but declaration of nullity may be barred by estoppel
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started