EMERGENCE, FORMATION AND DEVELOPMENT OF "ULTRA VIRES" DOCTRINE: HISTORICAL AND LEGAL ASPECTS

Аннотация

The article analyzes historical and legal aspects of emergence of registered and unregistered joint-stock companies in the UK, the formation, development and transformation of the "Ultra vires" doctrine as a result of a judicial precedent. In particular, the article outlines the factors, events and cases that led to the emergence of the Ultra vires doctrine, socio-economic problems and the work done by the British Parliament to address them, the consequences of the emergence of the doctrine, judicial precedent, the adoption of new laws and changes in judicial precedent, as well as new laws as a result of the development of market relations.