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Ultra Vires in Corporate Law

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Questions and Answers

What is the purpose of the Doctrine of Indoor Management?

To ensure all company dealings are reported to regulatory authorities

To require all internal documents to be publicly available

To protect the company against outsiders

To protect outsiders against the company (correct)

Which legal doctrine limits the doctrine of constructive notice?

Doctrine of Indoor Management (correct)

Doctrine of Constructive Notice

Royal British Bank v.Turquand Rule

Memorandum and Articles Rule

What does the Doctrine of Indoor Management presume about outsiders dealing with a company?

They have read the Memorandum and Articles

They have in-depth knowledge of the internal proceedings

They have full access to internal company documents

They need not inquire into the regularity of internal proceedings (correct)

In the context of the text, what is the significance of the Memorandum and the Articles?

They are openly accessible and important for legal compliance Signup and view all the answers

What protects outsiders against being affected by irregularities in a company's internal proceedings?

Doctrine of Indoor Management Signup and view all the answers

What exceptions exist under the Doctrine of Indoor Management?

Forgery committed by a company's officers Signup and view all the answers

How does the Doctrine of Indoor Management balance public convenience and justice?

By protecting outsiders from inquiry into internal regularities Signup and view all the answers

'Doctrine of Indoor Management' is also known by which other name mentioned in the text?

'Royal British Bank v.Turquand Rule' Signup and view all the answers

What protects a company against outsiders according to the text?

'Constructive Notice Doctrine' Signup and view all the answers

'Knowledge of irregularity' is one of the exceptions to which doctrine mentioned in the text?

'Doctrine of Indoor Management' Signup and view all the answers