ultra vires
A legal term for an action that needs legal authorization but is carried out without it is "ultra vires." Intrares is its opposite—a deed carried out with the appropriate permission. Acts that are within the bounds of the law are equivalently referred to as "legal" and those that are beyond the law as "invalid".
A cornerstone of company law is the concept of ultra vires. According to this, a company's objectives as outlined in its association memorandum may only be altered to the degree authorized by the Act. The authorization of such a credit by the board would be an extra vires act that all board members might be held legally accountable if the charter of a business forbids loans to directors and executives.
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