Why Kenya should reconsider its ultra vires doctrine in corporate law

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dc.contributor.authorMusikali, Lois M.
dc.date.accessioned2020-02-05T13:41:12Z
dc.date.available2020-02-05T13:41:12Z
dc.date.issued2010
dc.description.abstractThe ultra vires1 doctrine in company law, namely that a company is formed only to pursue the objects specified in its memorandum of association and if it acts outside those objects the transaction is ultra vires and void,2 has for a long time been one of the more intractable problems facing persons dealing with companies in common law jurisdictions.3 Under the ultra vires doctrine, companies could avoid liability under contracts with innocent third parties on the ground that the company never had the power to enter into the said contracts in the first place. A significant number of common law jurisdictions, including Australia, Canada, New Zealand and Hong Kong, and most recently England, have taken steps to abolish the doctrine of ultra vires. This article considers the provisions of Kenya's Companies Act (the Act)4 that provide for the doctrines of ultra vires and why there is need to review them. The discussion within this article is limited to the ultra vires doctrine as it relates to the objects clause and not to the general breach of directors duties in public listed companies.en_US
dc.identifier.citationMusikali, Lois M. Why Kenya should reconsider its ultra vires doctrine in corporate law. International Company and Commercial Law Review, 2010en_US
dc.identifier.urihttps://repository.daystar.ac.ke/handle/123456789/3117
dc.language.isoenen_US
dc.publisherInternational Company and Commercial Law Reviewen_US
dc.subjectCompany lawen_US
dc.subjectKenyaen_US
dc.subjectObjects clausesen_US
dc.subjectSpecial resolutionsen_US
dc.subjectUltra viresen_US
dc.titleWhy Kenya should reconsider its ultra vires doctrine in corporate lawen_US
dc.typeArticleen_US

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