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Simple English definitions for legal terms
intra vires
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A quick definition of intra vires:
Term: INTRA VIRES
Definition: Intra vires means that an action taken is within the legal authority or power of a corporation or person. For example, calling a shareholders' meeting is an intra vires function of the board of directors. It is the opposite of ultra vires, which means an action taken is beyond the legal authority or power of a corporation or person.
A more thorough explanation:
Definition: Intra vires (in-trə vI-reez) is a Latin term that means "within the powers of." It refers to an action taken by a corporation or person that is within their scope of authority.
Example: Calling a shareholders' meeting is an intra vires function of the board of directors.
Explanation: This means that the board of directors has the authority to call a shareholders' meeting, and it is a valid action within their power. If they were to take an action that is outside of their authority, it would be considered ultra vires.
Additional Example: A company's CEO has the authority to hire and fire employees. If the CEO fires an employee, it is an intra vires action because it is within their scope of authority.
Explanation: The CEO has the power to make decisions about the company's employees, so firing an employee is a valid action within their power. If the CEO were to make a decision about something outside of their authority, it would be considered ultra vires.