Features of memorandum of association
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Features of Memorandum of Association :
It is a primary document of the company. (2) It informs about the scope of activities of the company and defines boundaries within which the company must conduct its activities. (3) It is prepared by the promoters before registration with the help of experts and the secretary.
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A Memorandum of Association is a document that is useful for the external working of the company.
Explanation:
- A Memorandum of association can be described as a legal document that acts as the charter of the company.
- It has details like the capital of the firm, authorized capital, name of the directors, etc.
- This document manages the outside relations of a company with other firms, governments, and customers. A Memorandum of association is available in the public domain. Any contract made in violation of the terms of the memorandum of association is null and void.
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