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प्रश्न
Explain the following term/concept.
Memorandum of Association.
उत्तर
(1) Meaning: The Memorandum of Association is the basic, fundamental, and principal document of a company with which the company is registered. It serves as the constitution of the company. It defines the scope of the activities of the company, the relationship of the company with the outside world, its objects, the extent of and limitations to the powers of a company.
(2) Clauses: It contains six clauses, viz.,
(1) the name clause
(2) the address clause
(3) the objects clause
(4) the liability clause
(5) the capital clause
(6) the association or subscription clause.
(3) Purpose: The purpose of the Memorandum is to enable the shareholders, creditors and all those who deal with the company to know the permitted range of the activities of the company.
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संबंधित प्रश्न
Answer in one sentence.
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