Cook Construction, a general contractor, entered into a subcontract providing that Bryant Construction was to perform certain portions of work on a highway project for Cook. The two corporations signed the contract on October 19, 1984. Later, after Bryant had completed its work, Cook refused to pay the prices that Cook had quoted. Bryant filed suit. In preparing to defend the suit, Cook discovered that on January 27, 1984, the chairman of the Mississippi State Tax Commission had suspended Bryant’s corporate charter for failure to file annual reports and pay franchise taxes. Cook argued that the actual effect of the suspension was that Bryant was deprived of its power and capacity to act and, therefore, the contract was unenforceable because it was ultra vires. Was the subcontract unenforceable because it was an ultra vires act?