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Question
Write a word or a term or a phrase which can substitute the following statement:
Document which states the limits within which a company has to operate.
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Solution
Memorandum of association
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RELATED QUESTIONS
Select the correct answer from the option given below and rewrite the sentence.
_________ clause contains the details of liability of the members.
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Primary document of a company which states aims and objectives of a company.
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Document issued by public company inviting public to subscribe to its shares.
State whether the following statement is True or False:
Memorandum of Association describes the nature and character of the company.
State whether the following statement is True or False:
Letter of offer is issued at the time of Rights Issue.
Find the odd one.
Find the odd one.
Select the correct option from the given options:
| Group A | Group B |
| ___________ | Memorandum of association. |
Select the correct option from the given options:
| Group A | Group B |
| Liability clause | ___________ |
Select the correct option from the given options:
| Group A | Group B |
| Incomplete prospectus | ___________ |
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| Group A | Group B |
| ___________ | Establishes relation between company and its member |
Explain the following term/concept.
Name clause
Explain the following term/concept.
objective clause
Explain the following term/concept.
Capital clauses
Study the following case/situation and express your opinion:
The Articles of a company stated that while borrowing any money from outsiders. The document must have the signatures of the Managing Director (MD) and any one of the directors. The Articles of Association clearly stated the procedure to be followed while borrowing money. The Managing Director did not follow all the procedures but still borrowed money from Mr. X. Mr. X assumed that the MD has followed the required procedures:
(a) Can the MD be held punishable for his act?
(b) Under which Doctrine can Mr. X take action against the company?
(c) Explain the Doctrine.
Distinguish between the following:
Memorandum of association and articles of association.
