Whether it is written explicitly in statute of the joint-stock company or not, free from the legal character of the act or transaction made, a joint-stock company can make every transaction provided that they are not ultra vires transactions. Therefore, immovable properties of a joint-stock company may be sold unless these are ultra vires transactions. The authorized organ of a joint company to sale severally immovable property is board of directors. Restrictions against authority to represent, which are not allowed by Turkish Commercial Code to registry and proclaim, imposed by statute or the resolution of general assembly of joint-stock company, are only instrumental in internal relationship and subsequently cannot be claimed against a goodfaith third person
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