Question
Under the ultra vires doctrine, it is illegal for a company to sign a contract going beyond its object clause. But that doctrine has been
Under the ultra vires doctrine, it is illegal for a company to sign a contract going beyond its object clause. But that doctrine has been abolished in Australia under ss 124, 125(2), and 130. But which is the principle provided in the Corporations Act (Cth) 2001 that does not allow directors to breach the objective clause frequently?
a. Members can remove the directors (s 203C and D). b. Directors can hold members' meeting (s 24S%.
c. Constitution creates a legally binding contract both for directors and members (s 140).
d. Members can change the constitution by passing a special resolution (s 136).
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