CA-IPCC Law: Toughest Terminologies Explained

Pushkar | Last updated: 12 February 2021

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This article demystifies challenging terminologies within IPCC Law, explaining them in simple terms. It covers concepts such as the Doctrine of Ultra Vires, which relates to actions exceeding a company's powers as defined in its Memorandum of Association. Additionally, it clarifies Quasi Contracts, which are agreements with some contractual features but not all, and Void ab initio, meaning a contract is invalid from the very beginning.

In this article, we will discuss the most difficult IPCC Law terminologies and explain it, in easy terms. 1. Doctrine of Ultra Vires In order to understand the term we need to break it into 2 parts, doctrine and ultra vires. Doctrine (from Latin: doctrina, meaning teaching, instruction) is

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FAQ :

Under the Companies Act 2013, the Doctrine of Ultra Vires means that a company can only depart from its stated objects in its Memorandum of Association to the extent permitted by the Act. Acts or contracts beyond the company's or directors' powers are void.

A Quasi Contract is a fictional contract recognised by a court, meaning it has some features of a contract but not all. It's a resemblance to a contract.

Void ab initio means that a contract is considered illegal and invalid from the very start, essentially from the outset.

A Proviso is a clause that makes a preceding section or provision conditional. It's a stipulation or a special exception to the general terms of a legislative act.

Status Quo is a Latin phrase meaning the existing state of affairs. It's often used to maintain the current situation, for example, to prevent third parties from transferring interests in a property.