Abstract:
Both corporation and its representative should obey its constitution and regulations,and fulfill their duties within the limits of their rights,otherwise,their acts shall ultra vires.It is at large that business corporation and its representative ultra vires in practice.Ultra vires act of corporation is different from ultra vires act of corporation representative.In order to protect effectively the interest of corporation,shareholder,creditor and bona fide third party,the law should distinguish their differ...