powers of directors definition

powers of directors

Directors of a firm are vested with certain powers by the corporate legislation and the firm's articles of association. These generally include power to (1) act as the firm's agents, (2) have full access to the firm's accounts, (3) cause the firm to enter into valid contracts, (4) pledge the firm's assets, (5) borrow and give security, and (6) determine terms and conditions under which the firm's shares are issued, transferred, and forfeited.

powers of directors is in the Corporate, Commercial, & General Law and Entrepreneurship, Management, & Leadership subjects.

powers of directors appears in the definitions of the following terms: director and voluntary winding up

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