It is a principle of English law that a contract which is ultra vires one of the parties is treated as if
it never existed. Nor is a representation given by that party, that such a contract is valid and
binding, effective to give the other party to the contract any rights in respect of it - if it is beyond
the capacity of a party to enter into a particular contract then no representation by such party as
to its validity can save it or otherwise confer rights.
However the English High Court in Credit Suisse Internationa