Ultra vires UK Business definition

UK Business definition

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Ultra vires

A Latin term meaning `Outside the powers'. Ultra vires becomes relevant when lending to a corporate body, which may not be permitted to borrow under its Memorandum. The Companies Act 1989 enables companies to adopt `general trading powers', to some extent rendering ultra vires redundant.
THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
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Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage.

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