Going Beyond: The Ultra Vires Problem in Russian Corporate Law
Columbia Journal of East European Law, Vol. 2, No. 1, pp. 128-141, 2008
15 Pages Posted: 12 Dec 2008 Last revised: 2 Jan 2009
One of the important issues in corporate law is the ultra vires problem. If a corporation taking a certain action exceeds its legal capacity, can such an action be binding? Another but related question: If a corporate governing body or agent exceeds its authority, can its action be binding for the corporation? The common-law and civil-law systems provide somewhat different answers to these questions. In this article, I discuss the ultra vires problem as it stands in Russian corporate law, and, to a certain extent, compare the Russian understanding of the issue with those of the United States and Europe.
Keywords: corporate law, Russia, ultra vires
JEL Classification: K22
Suggested Citation: Suggested Citation