Implications of Ultra Vires Doctrine on Business Transaction in Nigeria

Companies are formed for the purpose of doing business to make profits. Such businesses are restricted by the object clause in the Memorandum of Association. This research work aimed at showing the effects of ultra vires doctrine on Business transaction in Nigeria. But the law at times validates the act of a company notwithstanding that it was done for the furtherance of the company's authorized business (or that if otherwise exceed the company's powers).