https://www.taxtmi.com/caselaws?id=96879 Purchases by a limited liability company of its own shares that contravene its memorandum and articles are ultra vires and void, so purported transfers to the company do not divest vendors or permit alteration of the share register; vendors therefore remain legal owners and liable as contributories. A corporation cannot be estopped to validate an act beyond its powers, and representations by brokers or officers cannot create corporate capacity; any remedy for misrepresentation by officers or brokers lies in a private suit against them, not by estopping the company. en-us Fri, 05 Dec 1941 00:00:00 +0630 Wed, 11 Jan 2012 17:53:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=96879 Purchases by a limited liability company of its own shares that contravene its memorandum and articles are ultra vires and void, so purported transfers to the company do not divest vendors or permit alteration of the share register; vendors therefore remain legal owners and liable as contributories. A corporation cannot be estopped to validate an act beyond its powers, and representations by brokers or officers cannot create corporate capacity; any remedy for misrepresentation by officers or brokers lies in a private suit against them, not by estopping the company. Case-Laws Companies Law Fri, 05 Dec 1941 00:00:00 +0630 https://www.taxtmi.com/caselaws?id=96879