Which clause of memorandum defines powers and limitations of a company
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Answer:
The memorandum of association is defined as a company's charter. It defines the limitations of a company's powers.
Explanation:
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Answer:
The Object Clause of the memorandum defines the powers and limitations of a company.
Explanation:
- Object clause is the most important clause of the MOA.
- It contains the main object of the company and other secondary objectives of the company.
- It defines the scope and limitations of the activities of the company.
- The objects must be defined and stated keeping in mind the following conditions:
- The objects of the company must be legal.
- The objects of the company must not be contrary to the provisions of any law.
- The object must not be immoral
- The object must not be illegal.
- The object must not be unethical.
Thus, The Object Clause of the memorandum defines the powers, scope, and limitations of a company.
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