Articles
Banking, Finance & Financial Services 18th Dec 2014
Asset finance in the education sector: the ultra vires predicament
The ability of many state schools to enter into lease agreements (often for office equipment such as photocopiers) is limited by statute. Where a school exceeds its statutory power, the agreement will be void and unenforceable by the creditor.
Thomas Evans examines the issue of ultra vires, the consequences and potential remedies for both creditors and schools. See his Alerter here.
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